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Gas tax holiday ends as fuel prices drop

Jan 03, 2023 12:21 pm

Rick Karlin reports in the Times Union that New York's gas tax holiday ended with the New Year, but consumers might not notice because of falling fuel prices. Hochul suspended the state’s 16-cent-per-gallon tax in the summer when gas prices were above $4 per gallon. Some counties, though not Greene and Columbia, also gave up their share of the gas tax to help consumers. All that is over now, and the high prices have lowered. Economists say that the slowing global economy and an increase in diesel fuel production helped lower fuel prices. Nationally, gas prices reached a high of $4.69 in July, but was down to $3.32 in December. Locally, in the Capital Region prices are now around $3.45, according to AAA. Read the full story in the Times Union.

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