{
  "id": 5990438,
  "title": "Israel cuts fuel tax as gasoline prices hit record high",
  "url": "https://urgent.news/2026/09/06/israel-cuts-fuel-tax-as-gasoline-prices-hit-record-high",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-06T14:22:13.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/economy-news/israel-cuts-fuel-tax-as-gasoline-prices-hit-record-high-93CH-4890297"
  },
  "original_language": "en",
  "account": "Israel’s Finance Minister Bezalel Smotrich has announced a two-month reduction in the fuel excise tax to combat record-high gasoline prices resulting from U.S.-Iran tensions. Energy Ministry adjustments to gasoline prices took effect on September 1, with the price per liter spiking to an all-time high of 8.25 shekels ($2.74), equivalent to $10.41 per gallon. The excise tax, or \"blu tax,\" accounts for 44% of the price, currently standing at 3.66 shekels per liter. Value-added taxes make up another 15%, while global oil prices represent the remaining 33%. Smotrich reduced the excise tax by 0.5 shekel per liter, lowering the price to 7.75 shekels per liter starting Monday midnight. Brent crude futures hit a record high of $96.28 per barrel on Friday due to Middle East tensions, which raised concerns about global supply. Israel is not currently involved in recent fighting after agreeing to a ceasefire in April. The Bank of Israel recently decreased its benchmark interest rate by 25 basis points for the third consecutive time to address low and stable inflation.",
  "summary": null,
  "key_points": [
    "Israel reduces fuel excise tax by 0.5 shekel per liter for two months",
    "Gasoline price hits record high of 8.25 shekels per liter",
    "Tension with Iran drives global oil prices to all-time high"
  ],
  "editors_take": null,
  "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."
}