Finance Minister Bezalel Smotrich signed an order Friday to reduce the excise tax and sales tax imposed on gasoline in order to prevent the price to consumers from rising at the beginning of August, the Finance Ministry said.
The price of gas will remain at NIS 6.85 per liter.
The ministry has been continuously applying such provisions to the taxes since April 2022 in order to keep gasoline prices from rising sharply. The provisions have led to an about 41.5 agurot reduction in gas prices compared to what the prices would be without the tax reductions.
The tax reductions were supposed to be rolled back at the end of this month so that there would have only been a 13 agurot reduction in the price of gas, but the finance minister decided to sign a new temporary order in order to prevent the expected price increase.
Smotrich: ‘We’re continuing to fight the cost of living’
“We are continuing the fight against the cost of living and preventing an increase in the price of fuel,” said Smotrich. “The fight against the cost of living is shared by all of us and we are taking all the necessary steps to make it easier for the citizens of Israel and to protect Israel’s economy.”
