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Israel: ‘Hard days ahead’ – Price of gas will soar to a record high tonight

The price of gas will soar to a record high tonight, and is expected to be linked to a wave of price increases, from vehicles and replacement parts to electrical products and real estate.

The CEO of the “Victory” supermarket chain, Eyal Ravid, warned of rising prices in the economy following the government’s new decrees and asked consumers to act wisely.

On his Facebook page, Ravid wrote: ”Hard days are ahead of us, we can say that we are facing a real tsunami of price increases. Fuel prices are about to skyrocket, with the government passing a new tax on disposable utensils alongside an additional tax on sugary drinks. These are just some of the factors that will weigh heavily on the pockets of us all.”

“And if that is not enough, the corona and its effects are still here, the suppliers have already announced that after a decade in which they have not raised prices, they no longer have a choice.”

Ravid said that in the not-too-distant past, before the corona, suppliers paid NIS 7,500 to bring a container from the east to Israel, by sea. Today the price already reaches NIS 59,000 per container.

“It cost NIS 2,500 from Europe and today NIS 17,000. This will hit all of our wallets.”

Victory CEO asks Israelis: ”Be smart consumers, buy right, plan your shopping, make lists in advance, check what goes into your cart and what you eat at home, keep Excel spreadsheets of expenses and income.”

”We at Victory will continue to do our best to lower the family food basket costs, give lucrative in-depth deals, fight suppliers and deepen parallel imports.

“You will need to be smart consumers, plan ahead and manage the family account wisely and together, hopefully, we will continue the struggle over the cost of living. Together we will get through the coming period,” Eyal Ravid promised.

Source: Arutz Sheva

Note:

1 NIS=0.32 USD