If you've been fed up with gas prices, there are two reasons for drivers to have some hope.A new survey says we may have hit the peak already, while drivers in New York could be getting a big break during the summer travel season.
Prices are hovering around the $4 mark in the Capital Region and people are more than ready for a break. They'd love to see a chunk of change knocked off that board and it just might happen.
These days, prices at the pump are dictating how people live their lives.
“I have to watch what I spend more,” explained Brian Kowalski of Albany. “Most of my money is just going into my gas tank now.”
Rick Bowles agrees, saying gas prices are outrageous. “My grandchildren live out in Duanesburg and I can't get to see them as much as I really want to,” he said.
That's why some New York lawmakers are pushing for what they call "Summer Gas Tax Holidays."
The new legislation would suspend three separate state taxes on fuel during Memorial Day weekend, July 4th weekend, and Labor Day weekend. It would save people 33 cents a gallon.
“We think it’s really going to induce people to say, ‘I can drive to visit loved ones, I can take a little vacation with the kids, which they deserve,’ and the State of New York is open for business,” said Assemblyman Tedisco.
Tedisco says what the state might lose in revenue from the fuel tax will be more than made up in sales tax revenue when people hit the road for vacation.
Local drivers, like Dan Knightes of Guilderland, agree. “We might be able to actually go away spend some time with other family,” Knightes said.
“It would definitely be an incentive for people to get out and go different places and small business throughout the Capital Region and get some revenue I think,” Kowalski explained.
There's even hope for the rest of the summer driving season.
A new Lundberg Survey says, due to weakening demand for gasoline and a slower rate of ride in crude oil prices, gas prices in some states may peak before then, or may have already.
Some local experts were, in fact, surprised by the results of the Lundberg Survey. But say it's a reliable source and we will just have to wait and see.
Assemblyman Tedisco says he hopes to get the plan passed within the next few weeks. He is also sponsoring another bill to address a long-term fix for rising gas prices. That legislation calls for investments in alternative energy research and development such as the Alternative Fuel Incentive Fund to create green jobs, protect the environment and enhance national security.
