Fuel Tax Cut Lowers Gas Prices in Israel
Translated & summarized from Makan by baba
Gasoline prices in Israel decreased by half a shekel to 7.75 shekels per liter following a two-month tax cut ordered by the Finance Minister. The measure aims to alleviate the impact of rising global fuel costs.
The story in 5 lines · by baba
- Gasoline prices in Israel fell to 7.75 shekels per liter.
- A half-shekel per liter fuel tax cut is in effect for two months.
- The tax reduction aims to counter rising global fuel prices.
- Finance Minister Bezalel Smotrich ordered the tax cut.
- The move is intended to ease citizen burdens and curb inflation.
The price of 95-octane gasoline in Israel dropped by half a shekel per liter overnight, settling at 7.75 shekels. This reduction follows Finance Minister Bezalel Smotrich's order to cut fuel tax by half a shekel per liter for two months. The move aims to mitigate the impact of a recent surge in fuel prices, which had reached 8.25 shekels per liter, a more than ten-year high.
Smotrich stated that the "important global battle against Iran, led by the United States, is causing fuel prices to rise." He added that the tax reduction will ease the burden on citizens, curb indirect price increases across various economic sectors, and contribute to continued reductions in inflation and interest rates.
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