May 27, 2022
OSWEGO COUNTY – The Oswego County Legislature has approved a sales tax cap on gasoline and diesel fuel to provide relief to residents burdened by rising prices at the pump.
Fuel in Oswego County is generally taxed at the same 4% sales tax rate as other goods and services. Starting June 1, the county will continue to collect 4% sales tax up to $3 per gallon, but will not claim sales tax on costs over $3 per gallon.
“Exorbitant gas prices have impacted millions of American households, especially those in rural communities like Oswego County,” said Oswego County Legislative Speaker James Weatherup, District 9. basics like housing, food and gasoline.
Ongoing supply chain issues related to the COVID-19 pandemic, coupled with Russia’s invasion of Ukraine and the highest inflation in four decades, have led to the most expensive fuel prices in more than a decade. ‘a decade. U.S. gasoline prices have risen more than 40% over the past year and nearly 25% since January, according to the U.S. Energy Information Administration (EIA).
Oswego County Legislative Finance and Personnel Committee Chairman John J. Martino, District 6, said the gas tax cap would keep money in residents’ pockets without have a negative impact on county finances.
“This decision signals that we understand the pain the people of Oswego County are feeling as prices continue to rise on fuel and other essentials,” Martino said. “We are doing our part to ease the financial burden wherever possible.”
Although the county is forgoing significant sales tax revenue by capping the fuel tax, the impact on the county budget is minimal because revenue projections were calculated when gas was just over $3. the gallon.
Oswego County gasoline tax relief includes all grades of octane and diesel fuel. It matches similar moves made in surrounding counties and will remain in effect until December 1.
Earlier this year, New York State suspended part of the state’s gasoline tax from June through December. The state tax relief will approximately halve the 33 cents per gallon tax.