Like last month, the price of gasoline will not rise despite the increase in the price of oil, the dollar estimates. Finance Minister Bezalel Smotrich decided to subsidize the increase this month as well, thereby preventing it from becoming more expensive. The minister instructed the professionals in the Ministry of Finance to find the budgetary sources for this purpose.
It appears that the maximum price for a liter of unleaded 95-octane gasoline at a self-service station (including VAT) will not exceed NIS 6.94 per liter. The official price of fuel will be published by the Ministry of Energy later in the day after the decrees reducing the excise tax and purchase tax imposed on gasoline are completed.
For nearly a year and a half, the Ministry of Finance has been subsidizing the price of gasoline by lowering the excise tax, so that the consumer price will not rise. The fuel tax subsidy for the public in the past year was NIS 2.2 billion. The assessment refers to the past year - from July 2022 to July 2023. As for the new government's actions, from the beginning of January 2023 until today, it is estimated that the subsidy stands at more than NIS 1.1 billion.
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