Fuel Prices to Drop by Half a Shekel Amid Election Period
Translated & summarized from N12 by baba
Israel's Attorney General approved a plan by the Finance Minister to lower gasoline prices by half a shekel within 48 hours, citing urgent need to ease cost of living pressures during the election period.
The story in 5 lines · by baba
- Gasoline prices in Israel will decrease by half a shekel within 48 hours.
- The Attorney General approved the reduction despite the ongoing election period.
- Finance Minister Smotrich seeks to expedite the measure by shortening public comment.
- The move aims to alleviate the high cost of living due to rising fuel prices.
- The price cut applies only to gasoline, not diesel fuel.
Israel's Attorney General Gali Baharav-Miara has approved a decision by Finance Minister Bezalel Smotrich to reduce the price of gasoline by half a shekel (approximately $0.15 USD) within 48 hours. The approval comes despite the ongoing election period, during which the powers of the outgoing government are typically restricted.
Smotrich plans to request a shortening of public comment procedures to expedite the implementation of the price reduction. The Ministry of Finance argued that there is a necessity and urgency to alleviate the burden of the high cost of living, citing a surge in fuel prices to record levels.
The reduction will apply only to gasoline, a price-controlled product, and not to diesel fuel. This distinction is intended to prevent subsidies from being absorbed by distributors' profits instead of reaching consumers.
According to the Ministry of Finance's request, and in accordance with the Basic Law: Budget Foundations, the measure will be funded from a budgetary surplus. This surplus resulted from the partial realization of a previous measure that increased the tax exemption on personal imports.
The same event, reported separately by each outlet. Open a few to compare what different newsrooms emphasize — and what they leave out.
Left 1Centre 5Right 3Haredi 2Arab 5Other 6
