Brent Crude Oil Price in Israeli New Shekel (ILS) Today
See the current Brent crude oil price in Israeli New Shekel. Automatic USD to ILS conversion using live exchange rates.
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Brent Crude Oil and the Israeli New Shekel
Brent crude oil is priced in US dollars on international markets. Energy companies, importers, and investors in Israel need to convert to ILS (₪) to understand the true cost in local currency terms.
The ILS-denominated Brent price is affected by two factors: the underlying crude oil price movement and the USD/ILS exchange rate. A weakening Israeli New Shekel makes oil imports more expensive for Israel, even if the dollar price of oil stays flat.
What drives the Brent price in Israeli New Shekel?
The Israeli New Shekel floats freely against the US dollar. The ILS price of Brent therefore has two moving parts: the dollar barrel price and the USD/ILS exchange rate. It is entirely possible for oil to fall in dollar terms while getting more expensive in ILS, which is why importers hedge both exposures separately.
Israel is a net crude oil importer, so a rising Brent price is a direct cost to the economy. Higher oil in ILS terms feeds through to pump prices, freight rates and eventually headline inflation, usually with a lag of several weeks between the crude move and the retail price change.
Converting a barrel of Brent into ILS
One barrel of crude oil is a fixed volume: 42 US gallons, which is 158.987 litres. To express a Brent quote in Israeli New Shekel, the dollar price per barrel is multiplied by the current USD/ILS exchange rate. To get a per-litre figure, that result is then divided by 158.987; for a per-gallon figure it is divided by 42.
The number this produces is the raw crude cost only. It is not what drivers in Israel pay at the pump. Retail fuel adds refining costs, distribution and retail margin, plus excise duty and sales tax or VAT, which in many countries are larger than the crude component itself. Crude is the input; the pump price is the finished product.
The calculator on this page performs the conversion automatically using a live exchange rate, so the ₪ figure updates as both the oil price and the currency move.
Reading the ILS oil price correctly
A common mistake is to compare a ILS oil price today against a ILS price from several years ago and read the difference as a move in the oil market. Over long periods, a meaningful part of that change can be the exchange rate rather than crude itself. To separate the two, compare the dollar barrel price across the same dates and treat the remainder as the currency effect.
Brent is also only one of several benchmarks. WTI priced in ILS usually trades at a different level, and the gap between the two moves with freight rates and regional supply. If you are pricing a physical cargo, check which benchmark your contract actually references before using either number.