Full coverage· Economy· Updated
Israel Fuel Prices Jump as Tax Break Reduced
The maximum price for 95-octane gasoline in Israel will rise by 50 agorot to a record high of 7.85 shekels per liter for self-service starting Thursday, November 5. This increase follows a brief four-day period where the price had dropped to 7.35 shekels per liter. Filling a standard 50-liter fuel tank will now cost drivers an additional 25 shekels.
3 newsrooms · 2 languages · since
What happened
- 01Gasoline prices in Israel will rise by 50 agorot to a record 7.85 shekels per liter for self-service starting Thursday, November 5.
- 02The price increase will make filling a standard 50-liter fuel tank 25 shekels more expensive for Israeli drivers.
- 03Finance Minister Bezalel Smotrich signed an order reducing the fuel tax discount to 50 agorot per liter, down from the previous one-shekel discount.
- 04Without the partial extension of the tax break, the maximum price of gasoline would have reached 8.35 shekels per liter.
- 05The temporary tax reduction is estimated to cost the state of Israel 136 million shekels in lost revenue.
- 06Future fuel prices will be determined by international market conditions, the dollar exchange rate, and upcoming decisions by the Ministry of Finance.
- 07The National Council for Planning and Construction approved amendments to the Amal-18 master plan to expand electric vehicle charging infrastructure at gas stations.
The price hike is due to a reduction in the fuel tax concession. Finance Minister Bezalel Smotrich signed a new directive reducing the excise tax on gasoline by only 50 agorot per liter, down from the previous one-shekel discount. Without this partial extension of the tax break, gasoline prices would have climbed to 8.35 shekels per liter. The tax reduction is estimated to cost the state 136 million shekels in lost revenue, and future prices will depend on international market conditions, the dollar exchange rate, and whether the temporary half-shekel reduction is extended.
In parallel, the National Council for Planning and Construction has approved amendments to the Amal-18 master plan to expand the electric vehicle charging infrastructure. The new regulations will allow gas stations with at least five fast-charging points to build up to 100 square meters of additional technical space for transformers and electrical equipment, and will permit charging facilities within highway interchanges.
Summarized by baba from the reports of 3 newsrooms. Updated
Latest report: Cursorinfo. Read Cursorinfo’s originalThe coverage
3 newsrooms on this story
Who covered it
- LeftNone
- CentreNone
- RightNone
- HarediNone
- ArabNone
- Other3
