Gas Prices Spike Again

Six days ago, on Sunday, gas prices hiked again. Here gas prices are not a result of gas station competition but a government decision. So once again we had to indulge a raise, this time 5.4 cents per liter (20.4 cents per gallon). The price itself will be $2.14 per liter or $8.11 per gallon.

The reason for this price (double the US price) is the high tax imposed on gasoline. The really annoying part is the VAT, which is imposed on both the gasoline price and the gasoline tax, making each tax hike and price hike even more pricey.

Hopefully the government here will cut its spending soon to let prices drop (or hopefully the oil price will drop). Otherwise, the next elections won't be very friendly.

Nadav

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