Fuel Prices in Israel Poised to Drop Below 8 Shekels Per Liter
Translated & summarized from JDN by baba
Israel is set to lower gasoline excise tax by 0.50 shekels per liter, potentially bringing the price below 8 shekels starting next week. The reduction aims to provide financial relief to drivers amidst global energy market volatility.
The story in 5 lines · by baba
- Fuel prices in Israel may drop below 8 shekels per liter next week.
- The government plans to cut the gasoline excise tax by 0.50 shekels.
- The current price reached a 2012 high of 8.25 shekels on September 1st.
- The tax reduction is subject to the Finance Minister's signature.
- Global energy market instability could affect future fuel prices.
Drivers in Israel are expected to see a significant reduction in fuel costs starting next week, as the Ministry of Finance is advancing an urgent measure to lower the excise tax on gasoline by 0.50 shekels per liter. This move comes after the price of gasoline reached a high of 8.25 shekels per liter on September 1st, the highest since 2012. The decree has been published for public comment, and upon its conclusion this coming Sunday, Finance Minister Bezalel Smotrich is expected to sign it into effect. The price adjustment will take place at midnight between Sunday and Monday. If implemented as planned, the price of gasoline is projected to fall below the psychological threshold of 8 shekels, settling around 7.75 shekels per liter. This reduction could save drivers tens of shekels monthly on regular refueling, depending on their travel habits.
However, this relief arrives amidst considerable uncertainty in the international energy market. Military developments in the region and attacks involving Iran continue to impact global oil prices. Any further fluctuations, coupled with changes in the dollar exchange rate and benchmark European fuel prices, could potentially alter the trend and affect the final consumer price in Israel in the future.
The same event, reported separately by each outlet. Open a few to compare what different newsrooms emphasize — and what they leave out.
Left 2Centre 7Right 4Haredi 3Arab 4Other 7
