Finance Minister Bezalel Smotrich said that the new instruction, canceling tonight's NIS 0.33 price hike in gasoline, will come into effect within 48 hours.
Minister of Finance Bezalel Smotrich today announced that he will issue an order reducing excise tax on fuel, which will cancel tomorrow's planned price hike.
The maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel is due to rise by NIS 0.33 per liter at midnight tonight February 1 to NIS 7.17 per liter. But following the excise tax cut, which is likely to come into effect later this week, the price will return to its current level of NIS 6.84 per liter.
Smotrich said that the new instruction will come into effect within 48 hours.
Two weeks ago, Smotrich signed a previous order to reduce the excise tax on gasoline NIS 0.10, which canceled the price increase at the beginning of January.
Published by Globes, Israel business news - en.globes.co.il - on January 31, 2023.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.
Bezalel Smotrich credit: PMO Sopkesperson