TL;DR: No. The ability to correct single-qubit $X$ and $Z$ errors does not imply the ability to correct single-qubit $Y$ errors.
Stabilizer generators
Consider the $[\![7,3]\!]$ code with stabilizer group $S$ generated by
$$
\begin{align}
G_0&=IIIYYYY\\
G_1&=IYYIIYY\\
G_2&=YIYIYIY\\
G_3&=XXXXXXX.
\end{align}
$$
This is like the Steane code where the $X$ and $Z$ sectors have been replaced with the $Y$ sector and where $X^{\otimes 7}$ has been introduced to tell $X$ and $Z$ errors apart. The maneuver adds two logical qubits, but will turn out to reduce the code distance.
Any single-qubit $X$ and $Z$ error gives rise to a syndrome $g_3g_2g_1g_0$ where the three least significant bits identify the affected qubit and the most significant bit discerns between $X$ and $Z$. Thus, there is a simple and effective recovery procedure for these errors.
On the other hand, every single-qubit $Y$ error gives rise to the same syndrome $1000$. If there is degeneracy in the code, this information could perhaps be sufficient for successful diagnostics and recovery. Not here. Logical operators live in $N(S)\setminus S$, but $N(S)$ contains many weight-two operators while $S$ contains none. Therefore, the code has distance two. But then some single-qubit errors cannot be corrected. Since all single-qubit $X$ and $Z$ errors can be corrected, then some single-qubit $Y$ errors can't be.
Thus, we have a stabilizer code that corrects all single-qubit $X$ and $Z$ errors but fails to correct some single-qubit $Y$ errors.
Logical operators
Another, less rigorous, but perhaps more pedagogical way to see this is to find a viable set of logical operators, such as
$$
\begin{align}
\overline{X}_1&=IIIXXXX\\
\overline{Z}_1&=IIYIIIY\\
\overline{X}_2&=IXXIIXX\\
\overline{Z}_2&=IIIIYIY\\
\overline{X}_3&=XIXIXIX\\
\overline{Z}_3&=IIIIIYY.
\end{align}
$$
Clearly, certain pairs of single-qubit $Y$ errors combine to give a logical operator. But all such errors yield the same syndrome, so no decoder can tell them apart. However, failure to tell them apart is now a logical error.
Once again, we conclude that our stabilizer code corrects all single-qubit $X$ and $Z$ errors but fails to correct some single-qubit $Y$ errors.
Intuition
This is a special case of a general fact: errors corrected by a quantum error correcting code form a vector space, but not necessarily an algebra. Less abstractly, if $E_1$ and $E_2$ can be corrected, then so can $aE_1+bE_2$, but not necessarily $E_1E_2$. The general case is of course easy to see because $E_1E_2$ may have a higher weight than $E_1$ and $E_2$.
The code above demonstrates that this fact is deeper than the simple observation about weight. Instead of considering the weight one should consider what gives rise to syndrome information. Non-trivial syndrome arises when an error operator and a check operator anticommute. However, if both $E_1$ and $E_2$ anticommute with a check operator $G$ then $E_1E_2$ commutes with $G$. This may deny the decoder useful syndrome information preventing $E_1E_2$ from being correctly diagnosed.