Israel Halves Fuel Tax for Two Months Amid Global Price Surge
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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