Israeli Gas Prices
07/05/2011 | | econ70.com, Elliot's Brief Blog, Gasoline, Graphsandlaughs.net, Israeli Government, Price Controls, Price Fixing
On the 2nd to last day of each month the Israeli gov’t determines the maximum price gas may be sold for the next month. So, on the 29th of June the gov’t announced that the maximum price gas may be sold for in July would be 8 cents less than in June. The cost of gasoline is 36% of the retail price. The gov’t also allows 9.5% of the total sale price to cover costs for selling, marketing and advertising, the rest; taxes and gas company profits.