The cabinet unanimously approved the recommendations of the Trajtenberg Committee on Socioeconomic Change relating to competition and the cost of living on Sunday.
The approval came after the cabinet had discussed the Trajtenberg Committee's recommendations during its past two meetings.
The sections of the report approved by the cabinet on Sunday call for a breaking of fuel monopolies in Israel by the addition of dozens of gas stations and by improving public transportation.
Prime Minister Binyamin Netanyahu said of the approval, "We are systematically moving forward with the approval of the Trajtenberg Report in order to decrease the cost of living."
Netanyahu added: "We are decreasing the powers of monopolies and bureaucracy. The government monopoly is the biggest of them all and will also be dealt with."