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The Economic Times

Global Business / The Economic Times

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Israel cuts fuel tax as US-Iran conflict pushes up gasoline prices

Israel's finance minister ordered a fuel excise tax cut for two months. This action addresses the recent surge in gasoline prices across the nation. Petrol prices reached an all-time high, causing public dissatisfaction and concern. The tax reduction aims to lower the price of gasoline per litre. Global oil prices and Middle East tensions are influencing these domestic fuel costs.

6 Sep 2026 7:22 pm