Smotrich Signs Two-Month Fuel-Tax Cut, Lowering Gasoline to NIS 7.75

Finance Minister Bezalel Smotrich signed a temporary order cutting the fuel-tax burden by 50 agorot per liter for two months, through October 31. From midnight Sunday to Monday, the maximum self-service price for 95-octane gasoline will fall from NIS 8.25 to NIS 7.75; in Eilat, the price will fall by 42 agorot to NIS 6.57. The reduction combines 42 agorot in excise tax with an 8-agorot VAT effect. The measure is expected to reduce state revenue by NIS 155 million a month, or NIS 310 million over its term.