Can אולי also mean perhaps?
It means both . As in Ivri Lider's song V'ulai ואולי, and perhaps...
My favourite word in Hebrew, maybe (pun intended) because of its somehow pleasant sound. Other examples are: "oublier" in French, "elenco" and "elemosina" in Italian, and "Finsternis" in German.
Is such a final י after a consonant often (or perhaps always) pronounced as a diphthong?