Falling fuel tax revenue has impact on local government budgets

NORWICH Ė Low fuel prices are leaving a dent in local government budgets dealing with a loss in gas tax revenue, according to Chenango County officials, but that isnít necessarily a bad thing.

According to reports from the U.S. Energy Information Administration, the July average price of gasoline is expected to be approximately 12.8 percent less than in 2015. Prices were 12.3 percent less in June and 14 percent less in May.

In fact, the summer travel season continues a year-long trend of fuel prices lower than last year. This year to date, all of Upstate has seen a 17.3 percent drop in average fuel prices compared to this time last year. Consumers in June paid an average $2.35 per gallon, down nearly 50 cents from last yearís average of $2.83 per gallon.

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