New York’s Gas Tax Holiday Ending Soon

New York’s Gas Tax Holiday Ending Soon

Low Demand and Increased Supply Helping to Keep Prices Down
Valerie Puma
Low Demand and Increased Supply Helping to Keep Prices Down

Today’s national average price for a gallon of gasoline is $3.18, up 14 cents since Tuesday. One year ago, the price was $3.29. The New York State average is $3.40, down 1 cent since Tuesday. A year ago, the NYS average was $3.50. AAA Western and Central New York (AAA WCNY) reports the following averages:

  • Batavia - $3.31 (down 1 cent from Tuesday)
  • Buffalo - $3.45 (down 1 cent from Tuesday)
  • Elmira - $3.32 (down 3 cents from Tuesday)
  • Ithaca - $3.56 (down 2 cents from Tuesday)
  • Rochester - $3.49 (down 1 cent from Tuesday)
  • Rome - $3.50 (down 1 cent from Tuesday)
  • Syracuse - $3.40 (down 1 cent from Tuesday)
  • Watertown - $3.43 (down 2 cents from Tuesday)

New York’s average for a gallon of regular is lower than it was a year ago. However, New York’s gas tax holiday, which went into effect on June 1, 2022, will come to an end this weekend. The state suspended the sales and excise taxes on each gallon of gas, equating to a total state discount of about 16 cents per gallon through the end of the year. In addition, many counties across New York followed suit and suspended or capped gas taxes at the county level. As the gas tax holiday ends, motorists can expect a spike in prices at the pump next week.

According to data from the Energy Information Administration (EIA), gas demand remains low while stocks continue to rise. Increasing supply and low gasoline demand are pushing pump prices lower, a trend that will likely help keep pump prices low — a mild relief to motorists as the gas tax break ends.
Crude prices increased earlier this month after the EIA reported that total domestic commercial crude stocks decreased substantially. Oil demand may continue to rise despite ongoing market concerns that a recession or slowdown could occur next year. If economic growth falters, crude demand will likely drop alongside prices. This morning oil prices range from $79 to $84 per barrel, with no change from Tuesday.

To conserve fuel, motorists should map routes, avoid peak traffic times like rush hour, and combine errands into one trip while using cruise control when possible. Drivers should also make sure tire pressure is at the vehicle’s recommended level for the best gas mileage while removing any unnecessary and bulky items from the car since it takes more fuel to accelerate a heavy vehicle. Get more tips here: https://gasprices.aaa.com/news/fuel-saving-tips/. Motorists can benefit from comparing pump prices before filling up with the AAA Mobile App for iPhone, iPad, and Android. 

AAA members receive discounts at gas stations such as Fastrac, Maple Leaf Market and Shell. Learn more here. AAA members can save on gas by joining the Fuel Rewards at Shell program. Join now at AAA.com/Shell. Motorists can also locate gas prices across the country and stay up-to-date on the latest news and fuel-saving tips at http://gasprices.aaa.com.