Israel Cuts Fuel Tax by Half Shekel to Lower Prices
Translated & summarized from JDN by baba
Israeli Finance Minister Bezalel Smotrich reduced the fuel excise tax by half a shekel for two months, lowering the price of gasoline to NIS 7.75 per liter. The measure aims to combat rising global fuel costs and ease economic pressure on citizens.
The story in 5 lines · by baba
- Fuel excise tax cut by 0.5 shekels for two months.
- Gasoline price drops to NIS 7.75 per liter.
- Minister Smotrich cites global anti-Iran campaign for price hikes.
- Reduction aims to ease citizen burden and curb inflation.
- Measure part of responsible economic management strategy.
Israeli Finance Minister Bezalel Smotrich has signed an order reducing the excise tax on fuel by half a shekel for two months. Effective at midnight Sunday, the price of a liter of 95-octane gasoline will drop to NIS 7.75 from NIS 8.25.
Smotrich stated that the global campaign against Iran, led by the United States, is causing fuel prices to rise. He explained that this reduction aims to ease the burden on Israeli citizens, curb indirect price increases across various economic sectors, and support efforts to lower inflation and interest rates. The minister emphasized this action as part of a responsible economic management strategy.
The move is intended to provide economic relief and maintain price stability within the Israeli economy.
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