Fuel Prices in Israel Stabilize as Tax Reduction Extended
Translated & summarized from Ice by baba
Israel's Minister of Finance, Bezalel Smotrich, extended a reduction in excise tax on gasoline by 50 agorot per liter for 26 days. This decision prevents an expected price increase of 50 agorot per liter, which would have raised the cost of a 50-liter fill-up by 25 shekels. The measure was enacted to stabilize fuel prices.
The story in 5 lines · by baba
- Fuel prices in Israel will remain stable due to a tax reduction extension.
- Minister of Finance Bezalel Smotrich extended the excise tax reduction for 26 days.
- The extension prevents a 50 agorot per liter increase in gasoline prices.
- A 50-liter fuel fill-up will not see an additional 25 shekel cost.
- The original price increase was set to take effect at midnight Wednesday.
The price of gasoline in Israel will not increase as initially expected, following a last-minute decision by the Minister of Finance, Bezalel Smotrich. A significant price hike was anticipated for midnight between Wednesday and Thursday, with the maximum price for a liter of 95-octane self-service gasoline set to rise by 50 agorot, from 7.35 to 7.85 shekels. This would have increased the cost of a 50-liter fill-up by 25 shekels. The anticipated increase was due to the expiration of an order reducing excise tax on gasoline. However, Minister Smotrich signed an extension of this order, maintaining the 50 agorot per liter reduction for an additional 26 days, through the end of the month. This measure aims to mitigate the expected price surge.
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