Israel Approves Fuel Tax Cut, Lowering Gas Prices After Record High
Translated & summarized from Alarab by baba
The story in 5 lines · by baba
- Israel approved a 50 agorot per liter cut in gasoline prices.
- The new price will be 7.77 shekels per liter starting next week.
- The reduction follows a record high price of 8.27 shekels.
- The cut is achieved by lowering the fuel excise tax.
- Finance Minister Besselal Smotrich proposed the plan.
Israel's Attorney General for Government Affairs approved on Thursday a plan by Finance Minister Besselal Smotrich to reduce the price of gasoline by 50 agorot per liter. The reduction, which will take effect at the start of next week, is to be implemented by lowering the fuel excise tax (known as 'بلو'). This follows a similar reduction approved by the minister last month.
This measure comes after the price of a liter of 95-octane gasoline reached a record high of 8.27 shekels on self-service pumps, an increase of 52 agorot from the previous month. The price for full-service, which includes an additional 26 agorot per liter, remained unchanged.
The new price, after the reduction, will be 7.77 shekels per liter.
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