The Ministry of Finance published this morning (Thursday) for public comment the order to reduce the excise tax on gasoline by 0.5 NIS.
The order will be signed this Sunday, subject to consideration of public comments, and the price will be updated at midnight between Sunday and Monday.
Attorney Gali Baharav Miyara received last night the opinion of the Legal Advisor to the Ministry of Finance, David Kopel, who recommended approving the move by Finance Minister Bezalel Smotrich.
This, despite the opposition of the professional echelon in the Ministry of Finance and the fear that this is an election economy.
In his opinion, the legal advisor wrote that given that a similar step was taken in 2022 in Israel and other countries, as well as the need to ease the cost of living, there is no legal impediment to approving the move.
The decision was made after fuel prices rose by 16 cents on Tuesday, raising the rate to a record - a liter of 95-octane unleaded gasoline at self-service costs 8.25 shekels.
Director of the Fuel and Gas Administration at the Ministry of Energy and Infrastructure, Batsheva Abuhatzira, said that one of the reasons for the price spike is the increase in the price of gasoline on the international market by approximately 6%. "This increase was partially offset by a decrease of approximately 3% in the dollar exchange rate.".
