Fuel Prices in Israel to Rise Again, Exceeding NIS 8 Per Liter
Translated & summarized from 0404 by baba
Gasoline prices in Israel are projected to increase by 25-40 agorot per liter, exceeding 8 shekels for 95-octane fuel. The rise is linked to global energy market shifts, and it remains uncertain if Finance Minister Bezalel Smotrich will reduce excise taxes to offset the increase.
The story in 5 lines · by baba
- Gasoline prices in Israel to rise again, exceeding NIS 8.
- Price increase of 25-40 agorot per liter expected.
- Developments in the Strait of Hormuz cited as cause.
- Finance Minister Smotrich's intervention via tax cuts is uncertain.
- A 50-liter tank refill could cost an additional NIS 20.
The price of gasoline in Israel is expected to increase again starting midnight between Wednesday and Thursday. Energy market analysts estimate that a liter of 95-octane self-service gasoline will rise by 25 to 40 agorot, pushing the price above the 8 shekel threshold once more. This anticipated price hike is attributed to developments in the Strait of Hormuz and their impact on the energy market.
If these projections hold true, Israeli drivers will once again pay over 8 shekels for a liter of gasoline. For consumers, this represents a significant additional expense. A 40-agorot increase per liter translates to an extra 20 shekels for a 50-liter fuel tank refill.
The key question now is whether Finance Minister Bezalel Smotrich will intervene again to mitigate the price increase by reducing excise taxes. As of now, no decision has been announced regarding further tax reductions, and the official new price is expected to be published near the beginning of the month.
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