As Gas Prices Remain High from Trump’s War in Iran, Senator Markey Introduces Legislation to Protect Americans from High Costs at the Pump

Bill Text (PDF) Washington (June 24, 2026) - Senator Edward J. Markey (D-Mass.), member of the Commerce, Science, and Transportation Committee and Environmental and Public Works Committee, today introduced the Gas Money Saved Act , legislation that would require the Department of Transportation (DOT) to examine whether it can strengthen Corporate Average Fuel Economy (CAFE) standards during periods of skyrocketing gas prices. The legislation would also reinstate the penalties for automakers that fail to produce fuel-efficient vehicles as options for American drivers, which were removed as part of the giveaways to corporations and the super-rich in the Republicans’ Big Ugly Bill in 2025. This legislation comes as average gas prices are still nearly $4 per gallon, after peaking at $4.50 per gallon due to Trump’s illegal war in Iran. In May 2026, gas prices rose at a rate ten times higher than the rate of inflation. Even as Trump and Iran tout a memorandum of understanding to end the war, gas prices are projected to remain high and the Strait of Hormuz—a key point in the global oil supply chain—remains in conflict, harming American families who are already suffering from rising costs throughout the economy. “Fuel economy standards help American drivers get around without breaking the bank while gas prices are high, but Trump and the Republicans gutted these standards as part of their crusade to put Big Oil above American families,” said Senator Markey . “Auto innovation should give consumers better choices, not cut corners at their expense. The Gas Money Saved Act would make sure American drivers have fuel-efficient vehicle options that are cheaper to fill up and hold automakers to account—a cost-saving measure that is especially critical as the Trump Administration would rather spend billions on an illegal war than keep costs low for Americans.” “The Gas Money Saved Act provides a bold response to sky-high gasoline prices: no more flouting the nation’s fuel economy laws,” said Daniel Greene, Senior Director of Consumer Protection & Product Safety at the National Consumers League . “This vital legislation eliminates a ‘get out of jail free card’ allowing automakers to evade federal fuel economy standards without repercussions. The bill also directs the federal government to ensure that the maximum feasible fuel economy standards are on the books. Doing so alleviates pain at the pump, protects public health, and strengthens our nation’s energy security.” “As people continue to face high gas prices, strong fuel economy standards for passenger cars and light trucks remain a proven tool in our toolbox that can reduce people’s costs,” said Anne Clement, Senior Legislative Representative at Earthjustice Action . “By requiring the National Highway Traffic Safety Administration to review fuel economy standards during times of high gas prices and restoring penalties for automakers that fail to meet the standards, Senator Markey’s bill can help save consumers money at the pump while also reducing pollution.” “Last year, Congress offered a blatant giveaway to automakers, removing all penalties for violating fuel efficiency standards that cut gas costs and help keep our air clean,” said Steven Higashide, Director, Clean Transportation Program at the Union of Concerned Scientists . “The Trump administration further weakened fuel-economy rules, piling new costs on consumers. The Gas Money Saved Act , by reinstating and strengthening penalties, holds automakers accountable and puts teeth back into CAFE standards.” “The Sierra Club applauds Senator Markey for his leadership and commitment to clean, affordable transportation at a time of volatile gas prices and increasingly expensive gas-guzzlers. Last year, Congress handed automakers a giveaway by eliminating penalties for violating essential fuel-efficiency standards that save drivers money and reduce harmful pollution. The Trump administration only made matters worse by weakening those standards further and driving up costs for consumers during an affordability crisis. The Gas Money Saved Act helps to deliver what American families need: more efficient vehicles to save on fuel costs and breathe cleaner air,” said Katherine García, Director of Sierra Club’s Clean Transportation for All Campaign . CAFE standards mandate that automakers meet average fuel efficiency standards across their car and truck fleet. Throughout their history, these standards have saved drivers money at the pump, lowered our dependence on imported oil, and reduced air pollution for nearly 50 years before Trump’s so-called One Big Beautiful Bill took away fines for automakers and rendered these consumer protection standards toothless. Specifically, the Gas Money Saved Act would: Require DOT to reevaluate CAFE standards if gas prices rise at a rate five times faster than inflation over a six-month period, and; Restore and increase financial penalties on automakers if their car and truck fleet does not meet fuel efficiency standards. The Gas Money Saved Act is endorsed by National Consumers League (NCL), Union of Concerned Scientists (UCS), Earthjustice Action, Sierra Club, and the Natural Resources Defense Council (NRDC). In February, Senator Markey and Congresswoman Doris Matsui (CA-07) led 78 lawmakers in a letter to the Administration calling on it to withdraw its proposed rollback of fuel economy standards. Senator Markey has been a fuel economy champion since the Energy Independence and Security Act of 2007 included fuel economy language co-authored by then-Rep. Markey to push for more protective standards. ###