Minister of Finance Bezalel Smotrich Signs Orders to Reduce Gasoline Taxes, Keeping Prices Stable in October
In response to the global trend of rising fuel prices, the Minister of Finance Bezalel Smotrich took action today by signing orders to reduce the excise tax and purchase tax imposed on gasoline. This move is expected to keep the price of gasoline unchanged in October compared to September, with consumers paying NIS 6.94 per liter.
The signing of these orders comes as a relief to the public who have been dealing with the burden of increasing fuel prices. Since April 2022, temporary provisions have been in effect to reduce the purchase tax and excise tax on gasoline due to the ongoing surge in fuel prices. The current regulations result in a reduction of approximately one hundred shekels per liter of gasoline for consumers compared to the price without tax reductions.
Finance Minister Smotrich expressed his commitment to tackling inflation and the cost of living, stating, “The fight against inflation and the cost of living was and remains the main goal of the government and of me as finance minister, and preventing price increases from the causes of inflation is a correct and necessary step in this fight. We will continue to serve all the citizens of Israel and advance the Israeli economy responsibly and professionally.”
This move to alleviate the impact of rising fuel prices comes amidst preparations for the upcoming Sukkot holiday in 2023. With the reduction in gasoline taxes, individuals can look forward to more affordable trips and travel during this festive season.
For those looking to further save on fuel costs, a comprehensive guide on various methods to save fuel has also been provided. The guide aims to assist individuals in optimizing their fuel consumption and ultimately reducing their expenses.
As the government aims to stay ahead of the global inflationary pressures, Minister Smotrich’s actions reflect a commitment to supporting the public and the Israeli economy. By implementing measures to control fuel prices, citizens can expect a stable cost of living and a more prosperous future.