“Inflation is hitting New Yorkers hard. We all feel it as we go about our daily lives. Infuriatingly, while we’re all finding it harder to make ends meet, the five largest oil companies earned $35 billion more in profits during the first three months of 2022 than in the same period last year. And the Russian invasion of Ukraine has only added to the economic uncertainty – driving gas prices up across the world. While I don’t have all of the answers, I know it’s important to do everything I can to bring New Yorkers some relief. That’s why I fought hard to pass a gas tax holiday, which goes into effect on June 1 and lasts until the end of the year.
“The gas tax suspension applies to both the eight cents per gallon motor fuel and diesel motor fuel tax and eight cents per gallon sales tax on motor fuel and diesel motor fuel purchases. This 16-cents-per-gallon savings will provide approximately $585 million in much-needed relief for drivers. The measure also empowers counties to provide even further relief at the pump.
“I’ll continue working to support our families through the challenging times we face and ensure our recovery leaves no one behind.”