To amend the Internal Revenue Code of 1986 to temporarily suspend certain fuel excise taxes for fuel separated during periods in which the national average price of gasoline exceeds $3.99 per gallon, and to prohibit certain credits or deductions for oil and gas companies during such periods.

Amends the tax code to temporarily suspend certain fuel excise taxes when average gasoline prices exceed $3.99 per gallon and bar certain oil and gas tax benefits during those periods