Israel Slashes Fuel Tax, Lowering Gas Prices Significantly
Translated & summarized from Kikar HaShabbat by baba
The story in 5 lines · by baba
- Gasoline prices in Israel will drop significantly starting Monday.
- The excise tax reduction lowers the price per liter to NIS 7.77.
- The Finance Minister signed the order to implement the tax cut.
- Eilat will see a reduced maximum price of NIS 6.58 per liter.
- The government aims to keep fuel prices stable despite global increases.
Effective midnight Sunday, a significant reduction in the excise tax on gasoline will take effect in Israel, lowering the price per liter. Finance Minister Bezalel Smotrich signed the order, which will decrease the cost of a liter of 95-octane gasoline from NIS 8.27 to NIS 7.77. This represents a decrease of half a shekel per liter compared to the previous update.
For full-service stations, an additional charge of 26 agorot per liter (including VAT) will remain unchanged from the previous update. In Eilat, where VAT is not applied, the maximum price for a liter of 95-octane unleaded gasoline at self-service stations will be NIS 6.58, a reduction of 43 agorot from the prior update. The charge for full service in Eilat will remain 22 agorot (excluding VAT).
The Ministry of Energy and Infrastructure advised consumers to compare prices and choose the most economical station. The Prime Minister's Office stated that while global fuel prices are rising, the government is ensuring they do not increase in Israel. The statement also highlighted that Israel's electricity prices are among the lowest in the West due to the development of gas reserves and the opening of competition in electricity production, attributing these successes to responsible economic navigation.
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