Israel Finance Minister cuts gasoline tax

Jul 30, 2023 13:59 IST

Tel Aviv [Israel], July 30 (ANI/TPS): Israel’s Minister of Finance Bezalel Smotrich has signed orders reducing the excise tax and purchase tax imposed on gasoline.

The orders state that during the month of August 2023, a purchase tax and excise tax in the amount of 2,582.35 Shekels (USD 700) per thousand litres (264 gallons) will be applied to gasoline, so that a reduction of 0.89 shekels will be applied to the price of a litre of gasoline for the consumer, compared to its price without tax reductions. Following the reduction, the price of a litre of gasoline for the consumer for the month of August is expected to remain at the level of 6.85 (USD 1.85) Shekels per litre.
Minister Smotrich said: “We are continuing the fight against the cost of living and preventing an increase in the price of fuel. The fight against the cost of living is shared by all of us and we are taking all the necessary steps to make things easier for the citizens of Israel and to protect Israel’s economy.” (ANI/TPS)