Fuel Prices to Drop by Half a Shekel Per Liter Tonight
Translated & summarized from Channel 13 by baba
The story in 5 lines · by baba
- Fuel prices to drop by 0.50 NIS per liter starting Monday.
- New self-service price will be 7.77 NIS per liter.
- Total reduction reaches 1 NIS compared to the real tariff.
- Subsidy costs the state 300 million NIS.
- Ministry of Finance professionals reportedly opposed the measure.
A tax reduction order signed by the Minister of Finance, Bezalel Smotrich, will take effect at midnight between Sunday and Monday, lowering the price of fuel by half a shekel per liter. The new price at self-service stations will be NIS 7.77 per liter. This follows a record high price of NIS 8.27 per liter reached last week. Legal officials approved Smotrich's request to sign an order reducing the price for the upcoming month. Combined with a previous reduction approved last month, fuel prices will be exactly one shekel cheaper than the real tariff. The subsidy, implemented during an election month, will cost NIS 300 million. This expected reduction will be added to a previous 50 agorot cut approved by the minister last month. However, sources within the Ministry of Finance reportedly opposed Smotrich's intention to sign the order, citing concerns about a potential budget breach and inefficient fuel usage due to the subsidy.
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