Photo Credit: Oren Nahshon / Flash 90
An Israeli man fills his tank at a gas station in Jerusalem. Israel has some of the highest prices in the world for gasoline.

[Nothing like an election to get a politician to take the right steps]

Minister of Finance Avigdor Liberman, published orders for a further reduction of the tax on gasoline, in order to ease the cost of living and to reduce the price of fuel by an additional half shekel starting on August 1st.

Advertisement



This tax reduction joins a reduction that is already in effect, which results in a reduction in the price of fuel by half a shekel per liter so that in total the price of fuel will be reduced starting August 1 by a shekel per liter, relative to its price without tax reductions.

This is roughly 12% of the current price for 1 liter of gas in Israel.

According to the published orders, the purchase tax and excise tax on gasoline will decrease from 3,184.31 new shekels per thousand liters to 2,329.61 new shekels per thousand liters, starting from August 1 until August 31, 2022. After that, the rate of excise tax and purchase tax will be On NIS 3,154.31 per thousand liters, for the period from September 1, 2022 to January 31, 2023.

These orders follow on from similar orders that reduced the tax on diesel fuel by half a shekel until the end of 2022. The loss of tax revenue as a result of the currently proposed reductions is estimated at NIS 354 million.

Advertisement

SHARE
Previous articleIsraeli Rabbinic Court: Woman Must Compensate Husband for Money Spent on Paramour
Next articleIDF Reveals Hamas Tunnel Networks Under Gazan Civilian Neighborhoods
TPS - The Tazpit News Agency provides news from Israel.