Full coverage· Economy· Updated
Israel Gas Prices to Drop Briefly Before Potential Surge
Israeli drivers will see a temporary drop in gasoline prices on November 1st, with 95-octane fuel decreasing to 7.35 shekels per liter. However, this relief is expected to end by November 5th when a temporary tax reduction expires.
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What happened
- 01Israeli gasoline prices will drop by 42 agorot on November 1st, reaching 7.35 shekels per liter.
- 02The price decrease is temporary, with a potential surge expected by November 5th.
- 03The surge is linked to the expiration of a temporary tax reduction on fuel.
- 04If the tax break isn't extended, 95-octane gas could rise to 8.35 shekels per liter.
- 05The temporary tax relief has cost the state treasury nearly 500 million shekels.
- 06Drivers are advised to compare prices at different gas stations.
If not extended by Finance Minister Bezalel Smotrich, prices could surge to 8.35 shekels per liter, costing consumers significantly more.
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