Finance Ministry Legal Counsel Approves Fuel Price Reduction
Translated & summarized from Makan by baba
The story in 5 lines · by baba
- Finance Ministry legal counsel permits fuel price reduction plan.
- Plan involves cutting gasoline tax by half a shekel per liter.
- Decision awaits approval from government legal advisor.
- Price cut expected to last for one month.
- Fuel prices recently hit a record high.
Israel's Ministry of Finance legal counsel has determined there is no legal impediment to Finance Minister Bezalel Smotrich's plan to reduce fuel prices, despite the approaching elections. The legal opinion, released Thursday, permits Smotrich's proposal to cut the gasoline tax by half a shekel per liter.
The decision still requires approval from the government's legal advisor, Gali Baharav-Miara, who is expected to concur with the Finance Ministry's stance. Following her approval, Smotrich's order will be published for public comment before being signed into effect, likely within the next week, and will remain in place for one month.
This move comes as fuel prices reached a record high overnight, with the maximum price for a liter of 95-octane gasoline at self-service stations, including VAT, climbing to 8.27 shekels, an increase of 52 agorot from the previous price. The additional charge for full-service stations remained unchanged at 26 agorot per liter.
The Fuel and Gas Division attributed the price hike to global energy market developments. The new price incorporates an updated excise tax, which was temporarily reduced by 50 agorot per liter last month, a measure valid until the end of October 2026.
Read the original at Makan
