Israel to Cut Fuel Prices by 50 Agorot Per Liter
Translated & summarized from Srugim by baba
The story in 5 lines · by baba
- Gasoline prices in Israel will drop by 50 agorot per liter.
- The price reduction takes effect Monday at midnight.
- The cut is achieved by lowering the excise tax on gasoline.
- The government stated it is acting against global price hikes.
- Electricity prices were also mentioned as being low.
Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich have agreed to significantly reduce fuel prices in Israel, with the new rates taking effect at midnight between Sunday and Monday. A directive signed by Smotrich will lower the price of a liter of gasoline from 8.27 shekels to 7.77 shekels, a decrease of 50 agorot per liter. This reduction is achieved by lowering the excise tax on gasoline.
"While fuel prices are soaring around the world, we are ensuring they do not skyrocket in Israel," stated Netanyahu and Smotrich in a joint announcement. They also highlighted that electricity prices in Israel remain among the lowest in the West, attributing this to the government's commitment to developing gas reserves and fostering competition in electricity production. The statement concluded by asserting that the Israeli economy is breaking records and that they will continue to manage it responsibly.
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