Israel Considers Fuel Tax Cut to Prevent Record Gasoline Prices
Translated & summarized from Panet by baba
The story in 5 lines · by baba
- Israel may cut fuel taxes to avoid record-high gasoline prices.
- The potential price hike is set to take effect at midnight.
- A tax reduction is seen as a boost for the Israeli economy.
- The blue tax is a component of the fuel price.
- Gasoline prices are currently around 7.04 shekels per liter.
Israeli Finance Minister Bezalel Smotrich convened a meeting with senior ministry officials on Tuesday to discuss reducing the "blue tax" on fuel. The move is intended to prevent gasoline prices from reaching a record high since the establishment of the state, effective from midnight.
Sources close to the Finance Minister indicated that a second consecutive tax reduction would be beneficial for stimulating the Israeli economy. The discussion also involved economic expert Dr. Ramzi Halabi, who spoke on the matter with Hala TV.
Halabi commented on the potential price increase and the possibility of lowering the blue tax. He explained that the blue tax is a component of the fuel price, and its reduction could mitigate the anticipated rise in gasoline costs. The current price of gasoline in Israel is approximately 7.04 shekels per liter, and the projected increase would bring it to around 7.30 shekels per liter.
Read the original at Panet
