Israel Cuts Fuel Prices by Half a Shekel Per Liter
Translated & summarized from Makan by baba
The story in 5 lines · by baba
- Fuel prices in Israel decreased by approximately half a shekel per liter.
- The reduction follows an order by Finance Minister Bezalel Smotrich to cut fuel tax.
- Gasoline price dropped from 8.27 shekels to 7.77 shekels per liter.
- Recent price hikes were linked to global energy market developments.
- Legal advisors found no impediment to the tax cut despite upcoming elections.
Fuel prices in Israel decreased by approximately half a shekel per liter starting last night, following an order signed by Finance Minister Bezalel Smotrich to reduce the fuel tax. The decision lowered the price of gasoline from 8.27 shekels to 7.77 shekels per liter. Last week, fuel prices had reached an all-time high, with the maximum price for a liter of 95-octane gasoline at self-service stations, including value-added tax, reaching 8.27 shekels. This represented an increase of 52 agorot compared to the previous update. Full-service stations incurred an additional 26 agorot per liter, including VAT, with no change from the prior update. The Fuel and Gas Department explained that the price hike was due to developments in global energy markets. The price also included an update to the production tax on fuel, which was reduced by 50 agorot per liter last month under a temporary order valid until the end of October 2026. Last Thursday, Legal Advisor to the Government Gali Baharav-Miara and legal advisors in the Ministry of Finance announced there were no legal obstacles to implementing the measure sought by the Finance Minister, despite the upcoming elections.
