Full coverage· Economy· Updated
Israel to Cut Fuel Tax, Lowering Gas Prices Next Week
Israel's Finance Minister is expected to sign a decree reducing the excise tax on gasoline by approximately 50 agorot per liter, bringing the price down to 7.77 shekels. This follows a recent record high and is the second such reduction in excise tax this year.
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What happened
- 01Israel's gasoline price to drop by about 50 agorot per liter next week.
- 02The reduction follows a recent surge to a record high of 8.27 shekels.
- 03The Finance Minister is expected to sign the tax reduction decree.
- 04This is the second consecutive excise tax cut on gasoline.
- 05The tax reduction is estimated to cost the state 500 million shekels.
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- Other8+3
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