The maximum retail price of a liter of government price-controlled unleaded 95 octane gasoline at self-service pumps will remain unchanged at NIS 6.85 in July.
The maximum retail price of a liter of government price-controlled unleaded 95 octane gasoline at self-service pumps will remain unchanged at NIS 6.85 in July, Minister of Finance Bezalel Smotrich has announced.
Smotrich has signed an order to extend the cuts in the excise and purchase taxes imposed on gasoline. According to the order, during July, excise and purchase tax on gasoline will be NIS 2,988.33 per thousand liters, which is in effect a cut of NIS 0.41.5 per liter in the tax compared with the full amount of tax that should be charged.
Since April 2022, due to the sharp rise in oil following the outbreak of the Russia-Ukraine war, orders have been signed reducing the amount of purchase tax and excise on gasoline. During the June the cut has amounted to NIS 0.50 per liter, so in effect excise is rising by NIS 0.8.50 per liter on July 1.
Published by Globes, Israel business news - en.globes.co.il - on June 29, 2023.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.
Israeli gas station credit: Eyal Izhar