The Jerusalem PostEconomy
Israel Fuel Prices Poised to Surpass NIS 9 Per Liter Post-Election
Summarized from The Jerusalem Post by baba
Center-rightNeutral tone
Israeli fuel prices are expected to exceed NIS 9 per liter after November 3 when a temporary NIS 1 tax cut expires. This, combined with rising global oil prices due to potential conflict with Iran, will drive the increase. Finance Minister Bezalel Smotrich implemented the tax cut before elections, but its extension is uncertain. Even without the tax cut, prices were already set to rise.
The story in 5 lines · by baba
- Fuel prices in Israel may exceed NIS 9 per liter after a tax cut expires on November 3.
- Rising global oil prices and potential conflict with Iran are contributing factors to the expected price surge.
- Finance Minister Bezalel Smotrich implemented a temporary NIS 1 per liter tax reduction last month.
- The tax cuts are expected to reduce state revenue by approximately NIS 467 million.
- A price increase of about 30 agorot per liter is anticipated even if the tax reduction is extended.
The Jerusalem Post publishes in English. The key points are summarized above. Read The Jerusalem Post’s full report from the link at the top of the page.
