Israel to cut gasoline prices by 50 agorot per liter at midnight
Gasoline prices in Israel will fall by 50 agorot (about 16 cents) per liter at midnight Sunday following an agreement between Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich.
An order signed by Smotrich reducing the excise tax will lower the price of a liter of gasoline from NIS 8.27 to NIS 7.77.
Netanyahu and Smotrich said the measure is intended to shield Israeli consumers from rising global fuel prices. They also pointed to Israel’s electricity prices, crediting the development of the country’s natural gas reserves and increased competition in electricity production.
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