The reimbursement rate for gas mileage has gone up by 2.5 cents, according to the IRS, just in time for rising gas prices.
The rate is now 58.5 cents.
This went into effect Jan. 1, 2022 and applies to cars, pick up trucks, and vans.
You’ll get the option to choose between standard rates or expenses.
For medical purposes, the rate was raised to .18 cents.
Charity driving remained at .14 cents per mile.
This rate increase comes at a time when gas is hitting record highs.
March 22 had a national average of $4.24 per gallon.
Where are gas prices the highest that the IRS increase would help?
The two highest states with rising gas prices are California and Nevada.
California has a standard average of $5.87 per gallon while Nevada’s is $5.13 per gallon.
California is discussing the possibility of a $400 gas rebate for its residents.
Other discussions include a possible gas tax suspension temporarily.
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to [email protected]