Full coverage· Economy· Updated
Fuel Prices to Drop by 42 Agorot, New Rate Set at 7.35 Shekels
Gasoline prices in Israel will drop by 42 agorot to 7.35 shekels per liter starting Sunday, due to a tax reduction. The tax cut is expected to continue next week, though possibly at a reduced rate.
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What happened
- 01Fuel prices will decrease by 42 agorot to 7.35 shekels per liter starting Sunday.
- 02The tax reduction on fuel is expected to continue next week to prevent price hikes.
- 03Minister of Finance Bezalel Smotrich is discussing the continuation of the tax cut.
- 04Previous tax reductions have cost the state nearly 500 million shekels.
- 05A full shekel tax reduction costs the budget about 300 million shekels.
The government has already spent nearly 500 million shekels on these reductions, with further cuts costing hundreds of millions.
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