OSWEGO – If Oswego County residents are feeling confused by the New York State Gas Tax Holiday and Oswego County’s Gas Tax Cap, then you’re not alone.
Oswego County residents might be wondering just how much of a savings the tax breaks will afford. With gas prices steadily increasing over the past month, consumers across the state are frustrated and looking for some type of relief.
Following is a breakdown of the NYS Gas Tax Holiday, Oswego County’s Gas Tax Cap, what they mean, and what Oswego County residents might expect in the coming months:
New York State Gas Tax Holiday:
According to the New York State Department of Taxation and Finance, gas tax rates per gallon for 2022 include a 17.3 cents Petroleum Business Tax, an eight cents Fuel Tax and an eight cents NY State Sales Tax on every gallon of gas purchased. The total gas tax by itself comes out to 33.3 cents per gallon. This amount does not include the addition of any local county fuel taxes.
The Motor Fuel Excise Tax (a tax imposed when motor fuel is produced or imported into NYS) and the sales tax were both suspended on June 1. The Excise Tax and state sales tax are both eight cents per gallon.
What this means for the consumer is a 16 cents reduction in the overall price of a gallon of gas in the state, regardless of cost.
Oswego County Gas Tax Cap:
On April 14, 2022, the Oswego County Legislature passed a measure to establish a gas tax cap following passage of NYS’s Gas Tax Holiday earlier that same week; setting the cap at $4 a gallon at that time. The Legislature then lowered the amount to $3 during a special April 28 meeting.
What this means for Oswego County residents: Consumers will pay the current 4 percent gas tax rate on the first three dollars of gas purchased. Any dollar amount after $3 will be untaxed. Savings round out to about seven cents for a $4.79 gallon of gas.
Savings:
This might be trickier than you think. If gas prices stayed steady at $4.79 per gallon – with NYS’s 16 cents reduction coupled with the 7 cents reduction from the county, a consumer’s total tax saving per gallon of gas would come out to 23 cents.
Even for the best mathematician, fluctuating gas prices will make it bit challenging to calculate savings at the pump. If this doesn’t sound as good as you had hoped – again, you’re not alone. But then, even a few extra dollars in your wallet can make a nice difference.
Following is an AAA breakdown of gas prices across Central New York for May 31. For the detailed AAA list of gas estimates across the state and nation, please click here.
- Batavia – $4.83
- Buffalo – $4.83
- Elmira – $4.87
- Ithaca – $4.87
- Rochester – $4.89
- Rome – $4.89
- Syracuse – $4.86
- Watertown – $4.90
THIS IS ALOT OF CRAP. JUST KEEP PAYING THE GREAT STATE OF NY.