Israel Slashes Fuel Tax by Half Shekel Per Liter for Two Months
Translated & summarized from 0404 by baba
Israeli Finance Minister Bezalel Smotrich has reduced the fuel excise tax by half a shekel per liter for two months, lowering the price of gasoline to NIS 7.75. The move aims to offset rising global energy costs and ease economic pressure on citizens.
The story in 5 lines · by baba
- Fuel excise tax cut by half shekel per liter for two months.
- New gasoline price set at NIS 7.75 per liter starting Monday.
- Reduction aims to ease economic burden amid rising global energy prices.
- Finance Minister Smotrich signed the order on Sunday.
- Measure is intended to curb indirect price increases and lower inflation.
Israeli Finance Minister Bezalel Smotrich signed an order on Sunday to reduce the excise tax on fuel by half a shekel per liter for two months. Effective midnight Sunday, the price of a liter of 95-octane gasoline will drop to NIS 7.75 from the current NIS 8.25.
The measure comes in response to rising fuel prices, attributed to the global campaign against Iran and increased worldwide energy costs. The reduction aims to ease the burden on drivers and mitigate the impact of higher prices on the broader economy.
"The important global campaign against Iran, led by the United States, is causing fuel prices to rise," Smotrich stated. "The reduction I have just signed will ease the burden on Israeli citizens, curb indirect price increases across many sectors of the economy, and allow us to continue lowering inflation and interest rates, as part of a calculated and responsible economic management, as we have proven we do in recent years."
The tax cut will remain in effect for two months.
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