The Jerusalem PostEconomy
Gas Prices to Drop Sunday, Defying Expectations of a Rise
Summarized from The Jerusalem Post by baba
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Gasoline prices in Israel will fall by 42 agorot per liter to NIS 7.35 on Sunday, November 5, defying earlier forecasts of an increase. The reduction is due to lower Mediterranean gasoline prices, despite a stronger dollar. However, prices could jump to NIS 8.35 on November 5 if Finance Minister Bezalel Smotrich does not extend a crucial excise tax cut, which expires November 3.
The story in 5 lines · by baba
- Gasoline prices will decrease by 42 agorot per liter to NIS 7.35 on Sunday, November 5.
- The price drop defies earlier forecasts that predicted an increase to around NIS 8.30 per liter.
- A temporary NIS 1 excise tax reduction per liter is set to expire on November 3.
- If the tax reduction is not extended, gasoline prices will rise to NIS 8.35 per liter on November 5.
- Finance Minister Bezalel Smotrich must sign an extension to prevent the price hike.
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