Israel to Cut Fuel Tax, Lowering Gasoline Prices
Translated & summarized from Panet by baba
Israel's Ministry of Finance will lower gasoline prices starting August 7, 2026, by temporarily reducing the fuel tax. The price per liter will decrease from 8.25 to 7.75 shekels until October 31, 2026.
The story in 5 lines · by baba
- Gasoline prices to decrease by 50 agorot per liter.
- New price of 7.75 shekels per liter effective August 7.
- Temporary tax reduction approved by legal advisor and Finance Minister.
- Price cut valid until October 31, 2026.
- Decision follows recent sharp increase in fuel costs.
Israel's Ministry of Finance announced on Thursday a reduction in gasoline prices, effective midnight on Monday, August 7, 2026. The price of a liter of unleaded 95-octane gasoline will drop by 50 agorot, from 8.25 shekels to 7.75 shekels. This decision follows the approval by the government's legal advisor, Gali Baharav-Miara, of Finance Minister Bezalel Smotrich's request to temporarily lower the "blue" tax on fuel. The Ministry of Finance's legal department issued an opinion permitting the tax reduction despite the upcoming Knesset elections, citing a precedent set by former Finance Minister Avigdor Lieberman. The tax cut is scheduled to remain in effect until October 31, 2026. Smotrich's move comes after a significant price hike on September 1, which raised the self-service gasoline price to 8.25 shekels per liter, a level not seen since September 2012.
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