Topic: Oil Price
Arutz Sheva News Service
IsraelNationalNews.com
Sunday, Oct. 24, 2004 The rising price of oil is taking its toll on Israel as well. The skyrocketing barrel prices are expected to cost Israel some 3 billion shekels this year, equivalent to half-a-percentage point of its Gross National Product. Every jump of a dollar in oil prices costs Israel some $70 million in fuel costs per year, and will cost the average Israeli family an estimated 1,000 shekels (almost 15% of an average monthly salary, according to salary statistics released today). The numbers were calculated in the framework of the "Senate" project, and were submitted to MKs and other public officials.
Editorial project-salvation
at 10:42 AM
