The Oil and Gas Administration at the Ministry of Energy and Infrastructure announces that at midnight between Tuesday and Wednesday, the prices of regulated fuel products sold to consumers at gas stations will be updated.
"We don't set the prices": Smotrich addresses the expected increase in the price of gasoline (Archive) // Yehuda Schlesinger
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, unchanged from a previous update. Full service surcharge will be 22 agorot per liter (including VAT), unchanged from previous update.
The Ministry of Energy and Infrastructure recommends comparing prices and choosing the most worthwhile station for the consumer.
At the end of each month, the Director of the Fuel Administration at the Ministry of Energy and Infrastructure publishes the price of 95 gasoline at the station for the next month, in accordance with the formula set forth in the Supervision Order on Prices of Goods and Services (Maximum Prices at Gas Stations), 2002-<>.
According to the order, the price of gasoline at the station is based on the average price of gasoline in the Mediterranean region on five trading days, preceding the last two working days of each month.
In addition, the price includes a basket of marketing expenses, excise tax and value added tax. The translation into NIS is based on the last representative exchange rate published by the Bank of Israel before the last two working days of each month.
Smotrich. Signed decrees to reduce the tax on gasoline until November 5, 2023, photo: Oren Ben Hakon
A Tax Authority spokesperson reports that Finance Minister Bezalel Smotrich has signed orders to reduce the tax on gasoline until November 5, 2023.
Smotrich, as already mentioned, signed decrees reducing the excise tax and purchase tax imposed on gasoline. The orders stipulate that by November 5, 2023, the purchase tax and excise tax imposed on gasoline will be reduced, so that there will be a reduction of 70 agorot in the price of a liter of gasoline per consumer, compared to its price without tax reductions. Over the next few days, an effort will be made to find sources of funding to continue the reduction until the end of the month.
Since April 2022, against the background of the increase in fuel prices, temporary provisions have been continuously applied reducing the purchase tax and excise tax applicable to gasoline. The temporary regulations currently in force lead to a reduction of about 99 agorot from the price of a liter of gasoline to the consumer compared to the price without tax reductions. These temporary orders will expire at midnight between October 31 and November 1, 2023.
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