Israel Cuts Fuel Tax, Slashing Gasoline Prices
Translated & summarized from Panet by baba
The story in 5 lines · by baba
- Gasoline prices in Israel will decrease by 0.50 shekels per liter.
- The tax reduction order was signed by Finance Minister Bezalel Smotrich.
- The change takes effect at midnight on Sunday.
- Prime Minister Netanyahu stated the move counters global fuel price hikes.
- The government also cited low electricity prices and economic strength.
Effective midnight Sunday, an order signed by Israeli Finance Minister Bezalel Smotrich will reduce the "blue" tax on gasoline, lowering the price per liter. The price of gasoline will drop from 8.27 shekels to 7.77 shekels.
In a joint statement, Prime Minister Benjamin Netanyahu and Minister Smotrich emphasized their commitment to keeping fuel prices stable in Israel despite global increases. They also highlighted that electricity prices in Israel remain among the lowest in Western nations, attributing this to the development of gas fields and the promotion of competition in electricity production.
The statement further asserted that the Israeli economy is achieving record-breaking results, and the government will continue to manage it responsibly.
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