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Suffolk County gas tax holiday expires
Drivers on Long Island may see gas prices take a sudden spike after Suffolk County's gas tax holiday came to an end.
LONG ISLAND - Drivers on Long Island could be seeing some changes at the gas pump now that Suffolk County's gas tax holiday has expired.
From June through November, drivers in Suffolk had been saving an estimated 3 to 4 cents per gallon. The tax break was in addition to a statewide tax suspension, set to expire at the end of the year, that was put in place to provide relief to drivers when prices were around $5 a gallon.
Officials are continuing to explore solutions to help New Yorkers meet the rising cost of living but so far no one has announced any extension of the gas tax break.
Petroleum analysts call it a confusing time. Even though the tax break is ending, drivers may not be paying more because gas prices are coming down.
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"The wholesale price for gas has been plummeting in the last few weeks," said Patrick De Haan who is Head of Petroleum Analysis at GasBuddy. "Instead of seeing it at the pump, it’s going to be more behind the scenes increase that stations are going to have to pay more."
According to AAA, the average price across the state is down about seven cents a gallon in the last month but up some $.19 from last year.
Kevin Beyer with Long Island Gas Retailers Association calls prices unpredictable and says it will be a waiting game.
"The dealers will hold on as long as they can because they don’t want to lose their business," he said. "I don’t want to be the first guy on the street to go up but you can only go as far as you can until your margin slims, and then you have no choice."
Tax breaks from the State as well as in some other Counties including Nassau are still in effect through the end of the year.