The decision applies to both the Haifa and Ashdod ports. Import fees for crude are being slashed by 62%, from NIS 15 per ton to NIS 5.60 per ton. Minister of Finance Ronnie Bar-On and Minister of Transport Shaul Mofaz signed an ordinance last week cutting down wharfage fees on fuels the oil refineries and fuel companies pay the ports to import crude and oil derivatives.
Wharfage fee is the charge assessed against cargo or merchandise, vessel's stores, fuel and supplies for passage on, over, under or through any wharf, pier, or bank controlled by the Port companies in Israel.
The Ministries of Finance and Transport have been working on the reform in the wharfage charges, for the past year.
The decision applies to both the Haifa and Ashdod ports. Import fees for crude are being slashed from NIS 15 per ton to NIS 5.60 per ton (62%).
The reform is aimed at improving competitiveness in Israel's fuel market, and, in the long term, could reduce fuel and electricity prices paid by consumers. Port fees paid by fuel companies on products like diesel, gasoline and jet fuel were also cut by up to 80%. The directive comes into effect in mid-November.
Wharfage fee is the charge assessed against cargo or merchandise, vessel's stores, fuel and supplies for passage on, over, under or through any wharf, pier, or bank controlled by the Port companies in Israel.
The Ministries of Finance and Transport have been working on the reform in the wharfage charges, for the past year.
The decision applies to both the Haifa and Ashdod ports. Import fees for crude are being slashed from NIS 15 per ton to NIS 5.60 per ton (62%).
The reform is aimed at improving competitiveness in Israel's fuel market, and, in the long term, could reduce fuel and electricity prices paid by consumers. Port fees paid by fuel companies on products like diesel, gasoline and jet fuel were also cut by up to 80%. The directive comes into effect in mid-November.