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Full coverage· Economy· Updated

Fuel Prices Rise to 7.85 Shekels Per Liter Despite Tax Cut

Israel's Minister of Finance Bezalel Smotrich signed an order reducing the fuel excise tax by 50 agorot per liter for 26 days, aiming to curb a sharp price increase. Despite the reduction, the price of 95-octane gasoline rose to 7.85 shekels per liter starting Thursday.

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What happened

  1. 01Fuel excise tax cut by 50 agorot per liter for 26 days aims to soften price hike.
  2. 02Price of 95-octane gasoline increased to 7.85 shekels per liter starting Thursday.
  3. 03Without the tax cut, gasoline prices would have reached 8.35 shekels per liter.
  4. 04The new reduction replaces a previous full shekel tax cut that expired.
  5. 05The Ministry of Finance announced the decision on Thursday.

Without this intervention, the price would have reached 8.35 shekels. The new order replaces a previous, larger tax reduction.

Translated and summarized by baba from Alarab, the latest report. Read Alarab’s original

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