Wednesday, February 16, 2011

Hundreds of Israelis have taken to the streets of Tel Aviv to protest against rising fuel prices caused by a spike in tax rates.

A tax surcharge imposed last month and high global oil prices have brought the price of a liter of petrol in Israel to $1.97. 

In addition to mounting domestic political pressure, Israeli Premier Benjamin Netanyahu has recently been under fire for the soaring prices of food and gasoline. 

He, however, has promised the Israelis to take a series of economic measures to curb the rapidly rising prices. 

The Israeli cabinet has vowed that it would raise wages and lower the prices of water, public transportation and gasoline.

Even members of Netanyahu's party have been hard on him over the past days, arguing that the high prices of basic goods and fuel would hurt the poor and middle-classes. source

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