Bus fares will rise by approximately eight percent despite the recent sharp drop in the price of fuel and protests from bus companies, according to Globes. Complaints from the bus companies that the apparent incoming recession will reduce demand convinced a government committee to reduce the planned price hike from 12 percent.

Most of the increase stems from a reduction in government price subsidies, but a spokesman for Transportation and Road Safety Minister Shaul Mofaz (Kadima), who must approve the hike along with the Finance Minister, said he will oppose it.