Finance Ministry aims to cut record high gas prices by 50 agorot, needs attorney-general's approval
Finance Minister Bezalel Smotrich intends to introduce the additional reduction, which, if approved and completed, is expected to bring the price of a liter of gasoline down to about NIS 7.77.
The Finance Ministry is seeking to cut gasoline prices by an additional 50 agorot per liter for a month, following a record high price of NIS 8.27 per liter. Finance Minister Bezalel Smotrich intends to introduce this reduction, which, if approved, would bring the price down to around NIS 7.77 per liter. This would be the lowest price since September 2021.
The price increase of 52 agorot since September was due to a reduction in excise tax. The previous record high price of NIS 8.25 per liter was set in September 2012. The Finance Ministry's legal advisers have determined that there is no legal impediment to the finance minister signing another reduction, but they are awaiting the position of the attorney-general before publishing the wording of the order for public comment.
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