{
  "id": 16534789,
  "title": "Israel fuel prices could top NIS 9 per liter as tax cut expires after elections",
  "url": "https://urgent.news/2026/10/26/israel-fuel-prices-could-top-nis-9-per-liter-as-tax-cut-expires-after",
  "topic": "world",
  "section": "World",
  "published": "2026-10-26T00:02:01.000Z",
  "source": {
    "name": "Jerusalem Post",
    "slug": "jerusalem-post",
    "url": "https://www.jpost.com/business-and-innovation/article-912845"
  },
  "original_language": "en",
  "account": "Israel's fuel prices are poised to climb significantly following the November 3 elections, as a temporary tax cut introduced by Finance Minister Bezalel Smotrich expires. The reduction, which lowered the excise tax on gasoline by NIS 1 per liter, is set to end, pushing the price of 95-octane gasoline above NIS 9 per liter from its current level of NIS 7.77. Smotrich implemented the temporary cut to curb rising fuel costs ahead of the vote.\n\nThe temporary reduction, initially a half-shekel per liter decrease, was doubled due to soaring global oil prices and the looming possibility of renewed conflict between Israel, the US, and Iran. Taxes typically account for over 60% of gasoline prices in Israel, generating approximately NIS 20 billion in annual state revenue. However, the tax cuts implemented in the past two months are projected to shave off around NIS 467 million in revenue, coinciding with a record defense budget due to the ongoing war.\n\nFollowing the election, Smotrich will face a decision on whether to extend the tax relief. If it becomes clear the current government will not continue, he may allow fuel prices to soar, leaving the incoming administration to manage the economic fallout. Even if the tax cut endures, the first price hike is anticipated to occur by Saturday night. The final price will be set by the end of the week, influenced by oil prices in the Mediterranean basin, potentially remaining in effect for just a few days.",
  "summary": "Rising global oil prices amid expectations of renewed fighting with Iran, coupled with the expiration of Smotrich's fuel tax cut on November 3, are expected to drive fuel prices sharply higher.",
  "key_points": [
    "Israel fuel prices expected to exceed NIS 9 per liter post-elections",
    "Temporary tax cut on gasoline expires after November 3 elections",
    "Smotrich's tax reduction aims to curb fuel costs ahead of vote"
  ],
  "editors_take": "The expiration of temporary tax relief shifts the burden of rising energy costs onto consumers while forcing the next administration to navigate the economic consequences of a depleted state revenue.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}