There’s good and bad news when it comes to the price of gas.
On Sunday, New York’s gas tax holiday will come to an end. While some lawmakers and advocates hoped that Governor Kathy Hochul would extend it into 2023 as gas prices hover between $3.50 and $3.75 – it never happened.
Meaning the gas tax holiday will come to an end and prices will jump by at least 16 to 20 cents in the short-term.
That’s the bad news.
The good news is that GasBuddy estimates the price of gas to come down by nearly 50 cents in 2023.
They say that will be enough to save motorists a couple hundred dollars by the end of the year. That said, it probably won’t be enough to offset the higher short-term fuel costs, especially coupled with higher home-heating costs.
According to GasBuddy, seasonal demand is expected to keep prices low early in the new year. However, they say the national average could hit $4.17 by June.
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]