Israel ranked 5th for country with highest gasoline prices

Israel takes 5th place with an average of $233 a month on gasoline, which equals 11% of the average Israeli monthly salary.

 

Israel is the fifth-priciest country in the world when it comes to how much consumers pay for unleaded gasoline, an international study by the financial website This is Money shows.

Israelis pay $5.79 per gallon for unleaded gasoline (Illustrative) – Photo: Yehoshua Yosef

Israelis are shelling out heavy sums at the pump — $1.53 per liter ($5.79 per gallon) — despite the fact that world oil prices have dropped to $66 per barrel since April 2012.

In which countries do consumers pay the most to fill their tanks? According to the study, the price of unleaded gasoline is highest in Norway, followed by Turkey, Hong Kong, and the Netherlands. Italy is tied with Israel for fifth place, and Denmark, Britain, Portugal, Belgium, Finland, and Greece round out the top 10 nations with the most expensive gasoline.

The study also showed that Israel is ranked fourth internationally in terms of how much of consumers’ monthly salary is funneled into paying for gasoline: An Israeli car owner spends an average of 900 shekels ($233) a month at the gas pump, an amount equal to 11% of the average monthly salary. Turks spend the largest part of their earnings on gasoline, with an average of 39% of their monthly salaries going into their cars’ gas tanks.

In both Greece and Portugal, drivers spend 25% of their salaries on gasoline, followed by Italy (15%). Italian drivers, like Israelis, spend 11% of their salaries on buying gas, and the Dutch fork over 10% to keep their cars moving.

According to the study, the gasoline tax in Israel, 60% of the pump price, is within the accepted range for Europe. In Turkey, tax on gasoline comprises 64.5% of the final price at the pump, while in Britain taxes are higher — 65.7% of the final gasoline price. In both Israel and Europe, drivers pay a gasoline tax that is three to four times as high as what Americans pay.

 

View original Israel Hayom publication at: http://www.israelhayom.com/site/newsletter_article.php?id=25989

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