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"You can have gasoline spikes independent of oil spikes, but they're not sustainable," he said. "If we don't get $100 a barrel oil again, then we'd be done with gas above $3 except when you have hurricanes, refinery fires and things like that."

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The FCC had paused the review from Oct. 3 to Dec. 3, first for the companies to respond to a massive data request and then to deal with a dispute over confidentiality of documents related to agreements with media companies.

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Shares in Delek Drilling were down 10 percent by 1315 GMT at14.80 shekels while Avner was down 9 percent at 2.68 shekels andRatio was down 10 percent at 0.33 shekel. Delek Group was down13 percent at 952 shekels.