Israel Gas Prices Hit Record High After Tax Break Reduction
Translated & summarized from NEWSru Israel by baba
Gasoline prices in Israel will reach a record high of 7.85 shekels per liter on November 5, an increase of 50 agorot, due to a reduced tax concession. This price hike will make filling a 50-liter tank 25 shekels more expensive. Meanwhile, Israel is expanding its electric vehicle charging infrastructure with new regulations for gas stations.
The story in 5 lines · by baba
- Israeli gasoline prices will rise to a record 7.85 shekels per liter on November 5.
- The price increase of 50 agorot per liter is due to a reduced fuel tax concession.
- Filling a 50-liter gas tank will cost drivers 25 shekels more starting November 5.
- New regulations will allow gas stations to build more infrastructure for EV charging.
- Finance Minister Bezalel Smotrich signed the order reducing the tax break.
The maximum price for 95-octane gasoline in Israel will increase by 50 agorot per liter starting Thursday, November 5, reaching a record 7.85 shekels per liter for self-service. This new price, effective through the end of November, follows a brief decrease of 42 agorot at the beginning of the month, which lasted only four days. The price hike is attributed to a reduction in the fuel tax concession. Finance Minister Bezalel Smotrich signed an order reducing the excise tax on gasoline by only 50 agorot per liter, down from a previous one-shekel discount. Without this partial extension of the tax break, gasoline prices would have risen to 8.35 shekels per liter on November 5, according to "Calcalist." Consequently, filling a 50-liter fuel tank will now cost drivers 25 shekels more than in the first four days of November.
In parallel, the Planning Administration and the Ministry of Energy and Infrastructure are advancing plans to expand the network of fast-charging stations for electric vehicles. The National Council for Planning and Construction has approved amendments to the Amal-18 master plan, which governs gas station operations. Under the new regulations, gas stations equipped with at least five fast-charging points for electric vehicles will be permitted to construct up to an additional 100 square meters of technical space for electrical equipment, transformers, and distribution systems. These facilities will also be allowed within highway interchange areas.
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