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Netanyahu, Steinitz decide not to stop gas price hike

August 31, 2012 04:28

Prime Minister Binyamin Netanyahu and Finance Minister Yuval Steinitz decided Thursday night not to intervene to stop the price of gas from rising to an all-time high of NIS 8.25 per liter on September 1.

Channel 10 quoted sources close to Netanyahu as saying the decision was made in light of the fact there are not enough resources in the state coffers to prevent the rise of gas prices which is being caused by rising worldwide oil prices.

Netanyahu has previously intervened on a number of occasions to reverse decisions to raise gas prices.

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