The Palestinian Treasury Collects 2.542 Billion Shekels from Fuel Taxes
Imad Rajabi – Palestine Economy Portal
Translated by Tamara Barakat
Data published by the Ministry of Finance show that the overall fuel taxes collected by the Treasury during the first eleven months of 2015 reached 2.542 billion shekels, while the 2015 Budget anticipated the amount to reach 2622 billion, with an average of 230 million shekels per month.
The average consumption of fuels (petrol, diesel, kerosene, and gas) by citizens in all of the Palestinian governorates is around 75 million liters each month.
The increase in fuel prices is one the main reasons behind the increase in inflation in Palestine. Israel imposes a “Blue tax” on fuels that amounts to 40% of the price of a liter, in addition to the 16% Value Added tax imposed by the Palestinian Ministry of Finance, and the profit earned by the fuel stations amounting to 9% of a liter’s price.
According to an earlier report by Al Hayat Newspaper, 56% of the price of fuel sold in the market enters the Palestinian Treasury.