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NY Plans to Suspend Gas Tax – Effective June 1st

As lawmakers in Albany came to a “Conceptual” budget agreement last week, part of that agreement involves giving New Yorkers some much-needed relief at the gas pump. Governor Hochul announced that New York State plans to suspend its gas tax effective June 1st.

This will be seen as a big relief for people that fill their tanks in New York, as this suspension of the tax can potentially save New Yorkers 16 cents a gallon when the suspension takes effect this summer. New York’s average gas price is 11 cents higher than the national average but will hopefully continue to decrease.

Decreasing Gas Prices 

On Long Island, the price of gas has been gradually coming down, decreasing 10 cents from last week. The price has also decreased by 21 cents since last month. This can be seen as a great sign as we can see the price moving lower than the record-high $4.47 per gallon Long Island Experienced last month.

Hochul said that the overall effect of this will be very impactful throughout the entire state.  The Governor also said that individual counties throughout New York have the right to lower their gasoline sales tax. Legislators in Suffolk County have said they are crunching the numbers to determine if the County can afford to lower the tax. Slashing the Gas tax price has also been proposed in Nassau County as they currently have the surplus in money to cover the cost.

Wrap Up

These proposals have been flying around all parts of New York for quite a few weeks, as legislators from all over the state have been looking for a way to give drivers relief from the astronomically high gas prices. Local county lawmakers are still waiting for guidance from Albany on how to lower these prices before the gas taxes are officially lowered.

gas pump
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