Gasoline prices unchanged despite sharp fall in oil prices

• Author: Dubi Ben-Gedalyahu
• Published date: 29 September 2022
• Publication title: Globes (Rishon LeZion, Israel)

The lower oil prices are not being passed onto the consumer because of the Israel Tax Authority decree that offsets some of the NIS 0.89 excise tax reduction introduced last month against falling fuel prices. The excise reduction, which will be cut to NIS 0.76 in October, is in effect only for October and November. The offset mechanism was designed to justify out of a desire to prevent the appearance of "election bribery" during an election period, when a transitional government is in office

Economists have recently revised downwards the...