Israel Cuts Fuel Tax by Half a Shekel Amid Global Price Hikes
Israeli drivers will see a reduction in fuel prices starting tonight at midnight, following a decision by Finance Minister Bezalel Smotrich to cut the excise tax on fuel by half a shekel per liter for the next two months. This measure will bring the price of a liter of 95-octane gasoline down to 7.75 shekels.
The Ministry of Finance stated that the reduction aims to mitigate the impact of rising global oil prices, which have been exacerbated by security tensions with Iran. The move is intended to prevent a chain reaction of price increases that could affect the broader Israeli economy.
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