Price per liter to fall to NIS 7.75 once the finance minister signs off on move, after speculation it could be blocked over electioneering concerns
Attorney General Gali Baharav-Miara on Wednesday gave the green light to Finance Minister Bezalel Smotrich to cut an excise tax on gasoline, which will lead to lower prices at the pump for Israeli drivers.
The move came as gas prices hit a record NIS 8.25 per liter, equivalent to $10.49 per gallon. The price, set by the government, will now be NIS 7.75 per liter, equivalent to $9.70 per gallon.
Gas prices have spiked worldwide, including in Israel, due to the US war with Iran and Iran’s obstruction of the Strait of Hormuz.
Smotrich, who reportedly wants to institute the tax cut in the coming days, did not immediately respond to Baharav-Miara’s decision.
