Jerusalem, 30 August, 2026 (TPS-IL) — Finance Minister Bezalel Smotrich has ordered a cut in the excise tax on gasoline to prevent further price increases caused by the global energy crisis and tensions involving Iran.
Starting at midnight between Monday and Tuesday, 95-octane gasoline will cost NIS 8.25 ($11.08 per gallon), up 16 agorot from NIS 8.09 in August. The full-service surcharge will rise to 26 agorot per liter, including VAT.
The new price matches the record high price set in September 2012. At that time, amid growing public anger over the cost of living, Prime Minister Benjamin Netanyahu proposed cutting the fuel tax to lower prices.
The Finance Ministry is now determining the size and mechanism of the tax cut. Smotrich plans to sign the order soon, with the reduction expected to take effect within days.