Gas Prices Relief Act of 2026

The Gas Prices Relief Act would lower gas prices by temporarily suspending the 18.4 cents-per-gallon federal gas tax through October 1, 2026, providing relief for families who rely on their cars to get to work, school, and run everyday errands. The bill directs the Secretary of the Treasury to monitor the program and use available authorities to help ensure that the benefits of the tax suspension are passed on to consumers at the pump. The bill also requires the Department of the Treasury to transfer funds from the general fund to the Highway Trust Fund and the Leaking Underground Storage Tank Trust Fund to keep these programs fully funded during the tax holiday. If enacted, drivers would pay approximately 18.4 cents less per gallon at the pump, though the actual savings would depend on whether oil companies pass the full benefit to consumers. The bill is currently in committee and has not yet been voted on by the full Senate.