Israel Approves 50 Agorot Fuel Tax Cut Through November
Translated & summarized from Davar by baba
Israel's Ministry of Finance approved a 50 agorot per liter reduction in the gasoline excise tax until the end of November, aiming to keep prices at NIS 7.85. A prior NIS 1 reduction expires November 4, with the new measure intended to offset an expected price hike. Meanwhile, the Ministry of Energy announced a 42 agorot decrease in the official fuel price to NIS 7.35 per liter starting Sunday.
The story in 5 lines · by baba
- Israel's Finance Ministry approved a 50 agorot fuel tax cut through November.
- The new tax reduction aims to keep gasoline prices at NIS 7.85 per liter.
- A previous NIS 1 fuel tax cut is set to expire on November 4.
- The new measure is intended to offset an expected price increase on November 4.
- The official gasoline price will decrease by 42 agorot to NIS 7.35 per liter starting Sunday.
Israel's Ministry of Finance announced Friday it has approved a reduction of 50 agorot per liter on gasoline prices, effective until the end of November. The ministry published a draft order for public comment, proposing the excise tax cut for 26 days. Following the public comment period, Finance Minister Bezalel Smotrich is expected to sign the order, contingent on reviewing public feedback. This measure aims to keep the self-service gasoline price at NIS 7.85 per liter.
A previous reduction of one shekel per liter is set to expire on November 4. The new order is intended to mitigate the price increase expected on that date. Earlier in November, a general decrease in fuel prices was anticipated.
Separately, the Ministry of Energy and Infrastructure stated on Thursday that as of midnight between Saturday and Sunday, the price of gasoline would be updated to NIS 7.35 per liter, a decrease of 42 agorot from the previous price.
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