The price of gas was lowered overnight Sunday by 2.15%, making the maximum price of self-serve 95-octane gasoline 16 agorot per liter less – NIS 7.27.

According to a report in Haaretz, the price cut was reduced by the decline in European oil prices being offset by the strength of the US dollar and 15-agorot increase per liter in excise taxes on gas.

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The excise tax on gasoline was temporarily reduced in April due to public pressure, but was not renewed despite a drop in world oil prices. 55% of the maximum retail price of gasoline is tax.

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Malkah Fleisher is a graduate of Cardozo Law School in New York City. She is an editor/staff writer at JewishPress.com and co-hosts a weekly Israeli FM radio show. Malkah lives with her husband and two children on the Mount of Olives in Jerusalem.
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