From the Liveblog of
Sunday, October 4, 2026
Netanyahu, Smotrich announce another NIS 0.5 reduction in gas tax
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Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich say they have agreed on an executive order to lower the price of gas by NIS 0.50 by reducing the excise tax on fuel.
The order will take effect tonight, lowering the cost of a liter of 95 octane gasoline from NIS 8.27 to NIS 7.77.
It joins a previous temporary order that had reduced the cost of fuel by NIS 0.52. That reduction was swallowed up in recent days after soaring prices worldwide forced the Energy Ministry to raise the price of gas, from NIS 7.75 to NIS 8.27.
The first tax reduction is set to expire at the end of October. It is unknown at this point whether it will be extended further.
Gas prices have climbed worldwide since the beginning of the Iran war in late February, as Tehran’s obstruction of the Strait of Hormuz has choked off a key pathway for the global supply of oil and gas. Ongoing tensions between the US and Iran over control of the strait have also fueled uncertainty in the oil market.
The Times of Israel Community.