There’s still death and taxes, but constantly rising gas prices will no longer be a given in Israel come the first of May.
The Ministry of Energy and Water Resources announced Sunday that the price of gasoline would drop by 1.8% to NIS 7.65 per liter, starting May 1.
The price reduction is being attributed to lower oil prices worldwide.
The drop marks a significant departure from the norm in Israel, where gasoline prices have risen by 20% since January 2011.
In February 2012, the price was slated to rise to NIS 8.05 per liter, the most gas has ever cost in Israel, but the government agreed to keep it below the NIS 8 mark after widespread protests.
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In early April, prices were to rise above NIS 8 again, but the government decided to cut all ministerial spending by two percent in order to finance the lowering of gas prices.
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