Fuel Prices Drop as Government Cuts Fuel Tax
The maximum price for a liter of 95-octane unleaded gasoline in Israel will decrease by 50 agorot to 7.75 shekels starting at midnight on Sunday. This reduction follows a fuel tax adjustment by the Ministry of Energy. The price cap for self-service stations in Eilat, excluding VAT, will also drop by 42 agorot to 6.57 shekels per liter. The surcharge for full-service stations remains unchanged at 26 agorot per liter, or 22 agorot in Eilat, including VAT where applicable.
This price cut comes after gasoline reached a 14-year high of 8.25 shekels per liter last week. The decision to lower the price was reportedly made by Finance Minister Bezalel Smotrich and received legal approval despite its proximity to elections.
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