Concern over sharp rise in fuel prices for consumers

In depth

According to Ynet, the tax reduction of one shekel per liter ends at the close of Shabbat, and if the finance minister does not sign a new order, the price will jump from 7.77 to 8.77 shekels per liter. According to Maariv, fuel is expected to rise at the close of Shabbat to about 8.04 shekels per liter, and according to Walla, a surge in oil prices over expectations of a third round of fighting between Israel, the US and Iran is expected to raise the price of 95-octane gasoline by about 30 agorot as early as the close of Shabbat.

According to TheMarker, the order for the excise tax reduction expires on November 4, and the Energy Ministry will publish on Thursday tariffs that will take effect in November. According to TheMarker, Finance Minister Smotrich may try to extend the tax reduction for political reasons, and it costs the state treasury about 360 million shekels per month. According to Kikar HaShabbat, cancelling the benefit at the close of Shabbat could cause a surge in fuel prices in the coming days.