Gas station
Gas stationiStock

The significant and continuous jump in fuel prices in recent months has already led Finance Minister Avigdor Liberman to announce a temporary reduction in excise tax, but even this move has failed to curb the prices, which are expected to reach 7.72 shekels per liter for 95-octane gasoline on Wednesday night.

The prices are expected to rise by 66 agorot on June 1, reflecting a nine percent increase in the price of gasoline in one month.

Due to this, the government is now looking for another solution that would help deal with the rise in prices.

Channel 12 News reported on Monday that Liberman, Energy Minister Karine Elharrar and senior officials in the Ministry of Energy have held discussions on the possibility of changing the formula for calculating fuel prices - with one goal being to set the price of fuel once every three months instead of every month.

The discussions are being conducted despite the displeasure of the fuel companies, which intend to oppose the move with all their might, and the Finance Minister is already considering compensation in exchange for changing the formula.