Fuel Price Hike Partially Curtailed by Extended Tax Reduction
Translated & summarized from Calcalist by baba
Israel's fuel prices will be partially curbed by an extended excise tax reduction signed by Finance Minister Bezalel Smotrich. The price of gasoline will remain at 7.85 shekels per liter instead of rising to 8.35 shekels starting November 5th. This tax reduction is extended for one month and will expire on December 5th.
The story in 5 lines · by baba
- Fuel prices in Israel will rise partially on November 5th.
- The price of gasoline will be capped at 7.85 shekels per liter.
- Finance Minister Bezalel Smotrich signed an order extending a tax reduction.
- The excise tax reduction on fuel is extended for one month.
- The current tax reduction order expires on December 5th.
Israel's fuel prices will see a partial increase starting November 5th, as the Ministry of Finance extends a reduction in excise tax on gasoline for another month. Minister of Finance Bezalel Smotrich signed the order, which will keep the price of a liter of gasoline at 7.85 shekels, rather than rising to 8.35 shekels. The current tax reduction order is set to expire on December 5th, leaving the potential for a full price increase at that time.
This measure aims to mitigate the impact of rising fuel costs on consumers. The extension of the excise tax reduction is a direct response to anticipated price hikes, providing temporary relief.
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