Drivers in New York will get a six-month gas tax holiday as of June 1 amid record-high gas prices across the United States.
The move to provide drivers some relief at the pump was proposed earlier this year when inflation and the war in Ukraine sent gas prices soaring.
The tax relief will continue through Dec. 31, 2022, and will provide a reduction of at least $0.16 per gallon statewide. Local sales and use taxes are not suspended under the program.
“By suspending certain fuel taxes for the next seven months, New York is providing some $609 million in direct relief to New Yorkers—a critical lifeline for those who need it most. At a time when families are struggling because of economic headwinds and inflation, we will continue to take bold action to reduce the economic burden on New Yorkers and get money back in their pockets.”
Twenty-five counties across the State have also taken action to set temporary caps on the sales tax charged per gallon of gas and diesel.
The embargo covers Russian oil imports to the E.U. that are transported by the sea while another 10 percent that is delivered by pipeline is exempt due to Hungary’s dependence on pipelines to transport the oil.
The move is part of Biden’s announcement on March 31, to release one million barrels of crude oil a day for six months to help offset the global supply disruption prompted by President Vladimir Putin’s military action in Ukraine, and help stabilize volatile energy prices for Americans.