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Story summary
- Israel will raise gasoline price by 52 agorot per liter at midnight Wed-Thu.
- The price reaches an all-time high of NIS 8.27 per liter ($10.17 per gallon).
- Global gasoline prices jumped about 13% as crude oil rose, pressuring fuel costs.
- Finance Minister Bezalel Smotrich cut the fuel excise tax, lowering gasoline to NIS 7.75 per liter.
- Rising oil prices erased most of the tax-cut savings within a month.
