Fuel Prices Set to Rise in Israel Amid Global Market Shifts
Translated & summarized from Channel 13 by baba
Fuel prices in Israel are expected to rise by about 40 agorot per liter in October, largely canceling out a previous tax reduction. The increase is driven by rising global oil prices and a weaker shekel.
The story in 5 lines · by baba
- Fuel prices in Israel to increase by 40 agorot in October.
- Price hike will erase most of the previous 'election discount'.
- New price expected to be at least 8.15 shekels per liter.
- Finance Minister Smotrich faces decision on further tax cuts.
- Increase driven by rising oil prices and weaker shekel.
Fuel prices in Israel are expected to increase by approximately 40 agorot per liter in October, potentially exceeding this amount, according to energy sector forecasts. This rise would largely negate the "election discount" previously implemented by Finance Minister Bezalel Smotrich, and in some scenarios, completely erase it. The price at self-service stations is projected to reach at least 8.15 shekels per liter.
Finance Minister Smotrich now faces a decision on whether to issue another order to further reduce fuel taxes. Such a move, especially at this sensitive time, could face legal challenges from within and outside the Ministry of Finance. Previously, after fuel prices hit an all-time high, Smotrich signed an order to lower them, despite reported opposition from professional staff within the Finance Ministry who feared budget overruns and inefficient fuel subsidies.
The current anticipated price hike is attributed to a surge in global oil prices and the depreciation of the Israeli shekel against the dollar.
The same event, reported separately by each outlet. Open a few to compare what different newsrooms emphasize — and what they leave out.
Centre 3Right 5Haredi 2Arab 2Other 6
