Estimates: Finance Minister Avigdor Lieberman intends to extend the discount on the fuel tax until November 15th

Despite the significant drop in world oil prices by about 10% since the end of last month and the drop 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 in self-service.
According to temporary calculations made by experts in the energy field, if the price of a barrel of oil continues to be around $100 or even less and the dollar exchange rate in Israel is between 3.20 and 3.30 shekels, the price of fuel in Israel is expected to drop on September 1st to around five shekels and several tens of shekels per liter, roughly one shekel less than its price currently.
In terms of the cost to the state coffers, the tax reduction on diesel from April until the end of the year and the tax reduction on gasoline from April to the end of August is estimated at NIS 1.44 billion.
In the background, next month's inflation index will include in the calculation the significant increase in electricity prices at a rate of 8.6% and another series of price increases in the areas of food and various products from abroad that the importers refused to postpone.