Israel Halves Fuel Tax for Two Months Amid Global Price Surge
Translated & summarized from Kikar HaShabbat by baba
Israel has reduced its fuel excise tax by half a shekel per liter for two months, lowering the price of 95-octane gasoline to NIS 7.75. The move by Finance Minister Bezalel Smotrich aims to counter global oil price increases and their economic impact.
The story in 5 lines · by baba
- Fuel tax cut by 0.5 shekels per liter for two months.
- New price for 95-octane gasoline is NIS 7.75 per liter.
- Action taken to offset global oil price hikes.
- Tensions with Iran cited as a factor in oil prices.
- Goal is to prevent broader economic price increases.
Israeli drivers will see a reduction in fuel costs as Finance Minister Bezalel Smotrich has signed an order to halve the excise tax on gasoline by half a shekel per liter for the next two months. Effective midnight tonight, the price of a liter of 95-octane gasoline will drop to NIS 7.75.
The Ministry of Finance stated that this measure aims to mitigate the impact of rising global oil prices, exacerbated by security tensions with Iran. The reduction is intended to prevent price increases throughout the economy that could stem from higher fuel costs.
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