Israel Approves Temporary Fuel Tax Cut to Lower Gas Prices
Israel's Attorney General, Gali Baharav-Miara, has approved a request from Finance Minister Bezalel Smotrich to temporarily reduce the price of gasoline by cutting the "Blue" tax on fuel. The decision, pending Smotrich's signature, is expected to lower the price of a liter of gasoline by approximately 50 agorot, from 8.25 shekels to 7.75 shekels.
The legal approval comes despite the upcoming Knesset elections, with the Finance Ministry's legal counsel concluding the move is permissible based on a similar precedent set by former Finance Minister Avigdor Lieberman. The proposed tax reduction is slated to remain in effect until October 31, 2026.
Smotrich's initiative follows a sharp increase in gasoline prices at the beginning of September, which saw the price of a liter of octane gasoline reach 8.25 shekels. This price level is reminiscent of fuel costs recorded in September 2012, prompting calls to alleviate the burden on consumers.
The temporary tax cut is anticipated to directly impact fuel prices, aiming to mitigate the effects of rising energy costs on the public.
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