An accused drug dealer free on bail was arrested Wednesday for the fatal shooting of a Queens man, police said.

Jeffery Palomino, 32, allegedly shot and killed 28-year-old Jasper Davis on Aug. 25, police said.

While the two men knew each other, police are unsure as to the motive of the killing, which happened near Manilla Street and Kneeland Avenue in Elmhurst.

Palomino was arrested on March 3 on drug charges and posted a $50,000 bond on July 10, court records show.

He is awaiting arraignment on murder and weapons charges in Queens criminal court.