Fuel Prices to Drop in Israel in Early November
Translated & summarized from Arab48 by baba
Gasoline prices in Israel will decrease in early November, with 95-octane fuel at self-service stations dropping to 7.35 shekels per liter. This reduction is dependent on the extension of a temporary fuel tax cut, which is set to expire on November 5th. The Ministry of Finance plans to further reduce the tax by 50 agorot per liter for 26 days to counter anticipated price increases. These measures aim to alleviate consumer costs amid rising fuel expenses.
The story in 6 lines · by baba
- Gasoline prices in Israel will fall to 7.35 shekels per liter for 95-octane fuel starting November 1st.
- The price reduction is conditional on extending a temporary fuel tax cut set to expire November 5th.
- Without an extension, prices could rise to 8.35 shekels per liter at self-service stations.
- The Ministry of Finance plans a 50 agorot per liter tax reduction for 26 days.
- This aims to mitigate expected fuel price increases in early November.
- The maximum price in Eilat will drop to 6.23 shekels per liter.
Gasoline prices in Israel are set to decrease at the beginning of November, with the maximum price for a liter of 95-octane gasoline at self-service stations falling to 7.35 shekels. This represents a reduction of 42 agorot from the current price. The cost for full-service refueling will remain unchanged at an additional 26 agorot per liter. In Eilat, the maximum price will drop to 6.23 shekels per liter, excluding value-added tax, a decrease of 35 agorot, with full-service refueling costing an additional 22 agorot.
However, this price reduction is contingent on the continued validity of a temporary order reducing fuel taxes. Authorities have warned that if this order is not extended or updated, it will expire at midnight between November 4th and 5th. This expiration would cause the maximum price to rise to 8.35 shekels per liter at self-service stations and 7.07 shekels in Eilat starting November 5th.
The Israeli Ministry of Finance announced its intention to reduce the fuel tax on gasoline by 50 agorot per liter for 26 days. This measure aims to mitigate the anticipated rise in fuel prices in early November. The ministry published an order for public comment, after which Minister of Finance Bezalel Smotrich is expected to sign the reduction order. The ministry stated that this reduction would bring the price of a liter of gasoline at self-service stations to 7.85 shekels.
This move comes while a previous reduction order, which lowered the tax by one shekel per liter, remains in effect until November 4th. The upcoming partial price decrease at the start of the month is intended to offset the expected price increase from that date. These actions are part of government efforts to ease the burden on consumers by lowering fuel taxes and curbing price hikes.
