Minister of Finance Bezalel Smotrich signed decrees extending the validity of the reductions in excise tax and purchase tax imposed on gasoline, and therefore the reduction of 70 agorot in the price of a liter of gasoline per consumer, compared to its price without tax reductions, will be valid until November 16, 2023.
As a result, the price of gasoline will not change and will continue to stand at NIS 6.94 per liter. Until the expiration of the orders, the Ministry of Finance will work to locate budgetary sources that will enable reduction by the end of November 2023.
Against the background of the increase in fuel prices since April 2022, temporary provisions have been continuously applied reducing the purchase tax and excise tax on gasoline. On October 31, 2023, the Minister of Finance signed decrees reducing the excise tax and purchase tax on gasoline up to a reduction of 70 agorot in the price of a liter of gasoline, relative to its price without tax reductions.
These orders expire at midnight between November 5 and 6, and the orders signed today are intended to extend this reduction and prevent fuel prices from rising.
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