Israel to Cut Fuel Prices by Half a Shekel Per Liter
Translated & summarized from i24NEWS by baba
The story in 5 lines · by baba
- Fuel prices in Israel will decrease by 0.50 shekels per liter starting Sunday night.
- The reduction is a result of a decision by Prime Minister Netanyahu and Finance Minister Smotrich.
- An order to lower the excise tax on gasoline was signed by the Finance Minister.
- The new price for a liter of gasoline will be 7.77 shekels.
- The move aims to counter rising global fuel prices.
Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich have agreed to reduce fuel prices by half a shekel per liter, effective Sunday night. The reduction comes into effect at midnight Sunday, following the signing of an order by Smotrich to lower the excise tax on gasoline. The price of a liter of gasoline will decrease from 8.27 shekels to 7.77 shekels. This decision follows a recent significant price increase. In a joint statement, the Prime Minister's and Finance Minister's offices stated, "While fuel prices are soaring around the world, we are ensuring they do not skyrocket in Israel. This is also true for electricity prices in Israel, which are among the lowest in the West due to our insistence on developing gas reserves and opening competition in electricity production. The Israeli economy is breaking records. We will continue to navigate it responsibly."
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