TEL AVIV, ISRAEL - Mass public protests over Israel's recent gas tax increase have prompted government officials to rescind the tax, Haaretz reports. As a result, the price of gasoline in Israel will retreat 23 Agurot per liter Sunday night (24 cents per gallon).

Israel's excise tax increase took effect January 1, 2011, leading to mass public dissatisfaction. The backlash resonated among Israeli officials, and Prime Minister Benjamin Netanyahu and Finance Minister Yuval Steinitz therefore made a joint decision to cancel the tax increase.

The announcement came as a surprise to the public, specifically because many believed any action on the tax required approval by the Knesset.

The decision to lower the gas tax does not affect the diesel fuel tax, nor does it cancel another gas tax increase scheduled to take effect January 1, 2012 (oy vey).