Israel Maintains Sufficient Oil Reserves Amid Regional Turmoil, But Prices Expected to Rise

Energy experts confirm Israel has enough oil and petroleum reserves despite market turmoil and regional tensions. CEO Amit Mor states that Israel's reserves align with IEA recommendations, but gasoline prices are predicted to rise by NIS 1 per liter next month. The Finance Ministry is considering a fuel tax reduction to mitigate price increases. Oil tanker activity has decreased due to ongoing conflicts, and shifting to diesel and coal has heightened emissions and costs. Experts warn prolonged conflict could lead to significant price hikes.

Published Mar 24, 2026

Israel currently has sufficient oil and petroleum reserves despite market turmoil and Iran's closure of the Strait of Hormuz, according to energy expert Amit Mor. Israel's reserves meet IEA recommendations, but gasoline prices are expected to increase by NIS 1 per liter next month.

AI-curated by Theia

The Finance Ministry is considering reducing fuel taxes to prevent prices from exceeding NIS 8 per liter. Oil tanker activity has slowed near Israeli ports due to joint US-Israeli strikes on Iran. Power plants have shifted to diesel and coal, increasing costs and emissions. Experts predict that a prolonged conflict could lead to much higher prices and emphasize the need for energy decentralization, advocating for a transition to solar power.