Economy
Fuel price expected to rise by more than 40 agorot and cross 8 shekel threshold
Fuel price is expected to surge next week by more than 40 agorot, following continued increase in oil prices against the backdrop of tensions with Iran, Houthi takeover of Bab al-Mandab and tensions between Russia and Europe. The half-shekel government subsidy awarded at the beginning of the month is expected to be offset. The final price will be determined at the end of the month, and a liter of fuel will cross the 8 shekel threshold unless Finance Minister Smotrich decides to expand the subsidy.
· Source: N12. Photo as published in the article
Fuel price is expected to rise next week by more than 40 agorot due to rising oil prices against the backdrop of tensions with Iran and the Houthis, with the existing government subsidy expected to be offset against the price increase.
According to the report, fuel price is expected to surge next week by more than 40 agorot, with the final price to be determined in five days, at the end of the month. The increase is due to continued rise in oil prices against the backdrop of tensions with Iran, Houthi takeover of Bab al-Mandab and tensions between Russia and Europe. At the beginning of the month, the government subsidized a half shekel per liter, at a cost to the economy of about 300 million shekels, but the subsidy is expected to be offset against the current price increases. So a liter of fuel will cross 8 shekels next week, unless Finance Minister Smotrich decides to expand the subsidy to avoid going to elections in another month with a record price at gas stations.
Source: N12
