Israel to Cut Fuel Prices by 50 Agorot Per Liter
Translated & summarized from i24NEWS French by baba
The story in 5 lines · by baba
- Israeli gasoline prices to drop by 0.50 shekels per liter.
- The reduction is due to a cut in excise tax, not global price changes.
- Prime Minister Netanyahu and Finance Minister Smotrich agreed to the measure.
- The new price takes effect Sunday at midnight.
- Officials cited global fuel costs and economic performance.
Israeli drivers will see a reduction in gasoline prices starting Sunday night, following an agreement between Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich. The price of a liter of gasoline will decrease by 0.50 shekels, from 8.27 shekels to 7.77 shekels. This price cut is not due to a drop in global oil prices but rather a reduction in excise tax on fuel. In a joint statement, Netanyahu and Smotrich explained that the measure aims to shield Israeli consumers from rising international fuel costs. They also highlighted Israel's low electricity prices, attributing them to the development of gas reserves and increased competition in electricity production. The ministers further noted the strong performance of the Israeli economy, which they stated is setting records, and pledged to continue managing it responsibly.
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