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New York Suspends the Gas Tax for Six Months as Pump Prices Soar

  • State will temporarily lift the 16-cents-a-gallon fuel tax
  • Tight supplies, strong demand signal further pump price gains
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Gas Prices Hit Record Average of $4.59

New York is temporarily lifting the 16 cents-a-gallon fuel tax for six months as the summer driving season kicks off with record-high pump prices.

Suspending the 16 cents-a-gallon fuel tax for six months would let New Yorkers keep $585 million, according to the legislation. The bill gives localities the option of waiving their local sales taxes, potentially equating to more savings.