The Attorney General has approved Finance Minister Bezalel Smotrich's plan to reduce fuel prices, according to The Zioneer. The approval was given despite the ongoing election campaign. Details of the reduction have not been disclosed.
The Attorney General has approved Finance Minister Bezalel Smotrich's proposal to lower fuel prices, authorizing a reduction of 50 agorot per liter, despite the ongoing election campaign. The approval was given after earlier indications that the legal adviser was expected to greenlight the move.
On Sunday, August 30, Smotrich's office confirmed the minister was advancing a cut of the excise tax on gasoline to offset expected price increases linked to global energy tensions and the naval blockade on Iran. The Finance Ministry initially confirmed professional discussions were underway, while reports emerged of internal opposition within the Treasury. By that afternoon, the Finance Ministry's legal adviser recommended approval, and later the Attorney General gave final authorization for a 50-agorot-per-liter reduction.
As The Zioneer reported on Sunday, the fuel excise cut is aimed at preventing a sharp surge in gasoline prices, which was anticipated due to the naval blockade on Iran and the broader global energy crisis. The decision comes during an election campaign, raising legal and political considerations.
The exact timing for the price cut to take effect has not been specified, and further details of the implementation mechanism have yet to be disclosed.
10 developments
- StrongIsrael fuel price drops 32 agorot per liter starting Wednesday
- StrongUS gas price falls below $4 for first time in over two months, after US-Iran MOU
- StrongFuel price to jump 61 agorot per liter in 45 minutes, drivers urged to refuel now
- StrongTrump calls on US gas stations to cut prices 'immediately,' warns of 'big problems'
Source and signal
- Open-source intake