Israel to Deepen Fuel Subsidies to Offset Expected Price Hikes
Finance Minister Bezalel Smotrich announced on Tuesday that he has instructed Treasury officials to increase fuel subsidies, aiming to prevent an anticipated rise in fuel prices. Smotrich stated that the ability to expand these subsidies is a result of sound economic management during the war years. The move is intended to curb further price increases across the economy.
The minister linked the expected fuel price hike to the energy crisis stemming from the conflict with Iran, noting that in the United States, the price of gasoline has reportedly surged from $2.50 to $6 per gallon. Smotrich asserted that Israel can simultaneously continue its military campaign against Iran and work to neutralize the Iranian threat, while also preventing domestic fuel price increases.
"We are managing the war correctly and the economy correctly, strengthening security, strengthening the economy, and taking care of you, the citizens of Israel," Smotrich declared.
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