Diesel Prices Relief Act of 2026

This bill creates a temporary tax holiday for diesel fuel from the date it is enacted through December 31, 2026. It sets the federal excise tax rate on diesel fuel (excluding kerosene) to zero and suspends the Leaking Underground Storage Tank Trust Fund financing rate on that fuel. The Treasury Secretary must transfer money from the general fund to the Highway Trust Fund and the Leaking Underground Storage Tank Trust Fund to replace the revenue lost from the tax reduction. The bill states Congress's policy that consumers should immediately benefit from the lower taxes and that fuel producers and dealers should reduce prices accordingly. The Treasury Secretary may use enforcement authorities to ensure the tax savings are passed on to consumers.