Showing posts from August 18, 2022

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Prediction: the tax reduction on fuel will be extended and the price will also drop significantly next month

Despite the significant drop in oil prices worldwide by about 10% since the end of last month and the fall in the dollar exchange rate by about 5% in recent weeks, Finance Minister Avigdor Lieberman intends to extend the discount on the fuel tax until November 15. The meaning: fuel prices are expected to drop significantly next month as well, after at the beginning of the month the price per liter of fuel dropped from NIS 8.08 to NIS 6.58 for the self-service stations. According to temporary calculations conducted by experts in the field of energy, if the price of a barrel of oil continues to be around $100 and even less and the dollar rate in Israel is between NIS 3.20 and NIS 3.30, the price of fuel in Israel is expected to decline on September 1 to around NIS 5 and a few tens of agorot per liter, approximately one shekel less than its current price. As of today, the two tax reduction orders signed by Lieberman - each in the half shekel - are expected to expire at the end of this mon