Israel Proposes Extending Fuel Tax Cut to Keep Gas Below 8 Shekels
Translated & summarized from NEWSru Israel by baba
Israel's Ministry of Finance proposed extending a 50 agorot per liter excise tax cut on gasoline until November 30 to keep prices below 8 shekels. The current tax reduction expires November 4, which would raise gas prices to a record 8.35 shekels. The proposed extension would maintain self-service prices around 7.85 shekels per liter.
The story in 5 lines · by baba
- Israel's Finance Ministry proposed extending a fuel tax cut until November 30.
- The proposed cut would keep gasoline prices below 8 shekels per liter.
- The current tax reduction expires on November 4, risking a price surge.
- The extension aims to maintain self-service gas prices at approximately 7.85 shekels.
- Finance Minister Bezalel Smotrich is expected to sign the decree after public review.
Israel's Ministry of Finance has released a draft decree for public review that proposes extending a reduction in excise tax on gasoline by 50 agorot per liter through November 30. Following public consultation and consideration of feedback, Finance Minister Bezalel Smotrich is expected to sign the decree. This measure aims to maintain the price of gasoline below 8 shekels per liter.
Currently, the price of self-service gasoline is set to decrease by 42 agorot on November 1, reaching 7.35 shekels per liter. However, an existing decree reducing the excise tax by 1 shekel per liter is set to expire on November 4. This expiration would cause the price to surge to a record high of 8.35 shekels per liter.
The proposed new decree would prevent this price hike, keeping the self-service gasoline price at approximately 7.85 shekels per liter.
