Israel Cuts Fuel Tax Again, Halving Price Drop Impact
Translated & summarized from Makor Rishon by baba
The story in 5 lines · by baba
- Israel's fuel tax was cut by another half shekel.
- Gasoline prices will drop to 7.77 shekels per liter.
- This is the second tax reduction in two months.
- The government aims to lower costs during wartime.
- Prime Minister Netanyahu and Finance Minister Smotrich approved the cut.
The Israeli government has decided to reduce the "blue tax" on fuel by another half a shekel, leading to a sharp decrease in the price of gasoline starting at midnight on Sunday. This marks the second such reduction in two months, with the previous cut also being half a shekel. Consequently, the state will forgo one shekel per liter of fuel sold over this period. The decision was made by Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich. As a result of this latest tax cut, the price per liter of gasoline will drop from 8.27 shekels to 7.77 shekels. This move comes after fuel prices reached an all-time high in early October. Finance Minister Smotrich stated that despite a "long and expensive war" and rising global prices, Israel's economy allows for managing the conflict while keeping prices low and addressing the cost of living for citizens.
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