Israel Cuts Fuel Prices by Half a Shekel Amid Global Rises
Translated & summarized from Davar by baba
The story in 5 lines · by baba
- Gasoline prices in Israel dropped by 50 agorot per liter.
- The new price is 7.77 shekels per liter at self-service stations.
- The reduction was agreed upon by the Prime Minister and Finance Minister.
- Excise duty was lowered for the second time in two months.
- The move aims to counter rising global fuel prices.
The price of gasoline in Israel will decrease by 50 agorot (half a shekel) starting Monday night, bringing the cost of a liter of 95-octane unleaded gasoline to 7.77 shekels at self-service stations. This reduction was agreed upon by Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich. The price cut is being implemented through a reduction in excise duty, marking the second such decrease in two months, following approval from the Attorney General.
In Eilat, where VAT is not applied, the maximum price for a liter of 95-octane unleaded gasoline at self-service stations will be 6.58 shekels, a drop of 43 agorot from the previous update. The additional charge for full service at stations remains unchanged at 26 agorot per liter nationwide and 22 agorot in Eilat.
Prime Minister Netanyahu stated, "I agreed with Finance Minister Bezalel Smotrich to lower fuel prices by half a shekel per liter tonight. While fuel prices are soaring around the world, we are ensuring they do not jump in Israel." He also highlighted that electricity prices in Israel are among the lowest in the West due to efforts to develop gas reserves and foster competition in electricity production, adding that "Israel's economy is breaking records. We will continue to navigate it responsibly."
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