The Knesset approved on Monday an increase in the value-added tax from 15.5 percent to 16.5 percent starting July 1st.

An immediate effect of the rise will be at the gasoline pumps, where the self-service price for 95 octane will rise 3.4 percent to NIS 6.35 a liter. Full service will be an additional 13 agorot per liter.