Smotrich takes a decisive step: plans to reduce fuel prices immediately
Against the backdrop of fears regarding a sharp rise in fuel prices due to the blockade on Iran, Finance Minister Bezalel Smotrich will sign a special order to reduce the excise tax. The goal is to lower costs for consumers as early as this week.
Drivers in Israel can breathe a sigh of relief, at least for now. Against the backdrop of the global energy crisis and ongoing tensions with Iran, which were expected to lead to a significant jump in fuel prices, the Ministry of Finance is intervening in an attempt to cushion the blow to citizens' pockets.
In an official statement released on Sunday on behalf of the Finance Minister's office, it was announced that Bezalel Smotrich has ordered the promotion of a reduction in the excise tax on gasoline to prevent the expected price hike. According to the statement, professional discussions are currently being held at the Ministry of Finance to formulate the level of the reduction and the exact mechanism. The minister intends to sign the order as soon as possible so that the reduction will take effect in the coming days and be felt immediately at gas stations across the country.
As a reminder, this economic news from the Finance Minister comes at a particularly sensitive and challenging political time for him. A dramatic poll was recently published indicating a complete collapse for the Finance Minister and his party, which are receiving only 2.6% support — a figure well below the electoral threshold. At the same time, Itamar Ben Gvir's party, Otzma Yehudit, is managing to maintain its strength and is receiving 8 mandates, which further sharpens the split and the fierce struggle for the votes of the ideological right.
