Hochul doesn't rule out another gas tax holiday,' but would prefer feds provide relief for soaring fuel prices | amNewYork

"You know what happened when we did it last time? The prices went even higher, Hochul said. So, I would look at all the plans we have to possibly reduce it. New York City drivers found themselves paying, on average, 31 cents more for a gallon of gas week-over-week, according to the American Automobile Association."

"Gas prices have shot up by over 50 cents since the U.S. and Israel started bombing Iran nearly two weeks ago, an action that quickly sparked a broader conflict throughout the Middle East. On Feb. 27, according to the American Automobile Association (AAA), the day before the war began, a gallon of gas in New York had cost $2.99, but as of March 11, the price has risen to $3.50-a-gallon a 17% increase."

"Hochul said her preferred solution would be for the federal government to waive its own gasoline taxes amid the Middle East conflict. The state charges drivers a 24.8 cents tax for every gallon of gas they put into their vehicles."

Gas prices in New York have risen significantly following the U.S. and Israel's military actions against Iran, with prices increasing 17% from $2.99 to $3.50 per gallon between late February and mid-March. Governor Hochul was asked about implementing another state gas tax holiday similar to 2022, but expressed skepticism based on previous experience when gas companies raised prices despite the tax reduction. She noted that while she would consider all options to reduce costs, her preferred approach would be for the federal government to suspend its own gasoline tax instead. New York's state gas tax is 24.8 cents per gallon, and diesel prices have surged even more dramatically, rising 89 cents per gallon during the same period.

Read at www.amny.com