Cyprus News Agency

Israeli Prime Minister Netanyahu said in a statement on his social media account that he had agreed with Finance Minister Bezalel Smotrich to cut fuel prices by half a shekel per liter starting tonight.

Netanyahu said: “While fuel prices are rising rapidly around the world, we are ensuring that prices do not rise in Israel.”

Netanyahu also said electricity prices in Israel are among the lowest in the Western world, adding that this is the result of policies aimed at developing natural gas fields and opening electricity generation to competition.

Netanyahu said: “Israel’s economy is once again breaking records. We will continue to manage the economy responsibly.”