Provides three-month reduction or suspension of tax on highway fuels based on average retail price of unleaded regular gasoline; makes an appropriation.

This bill temporarily adjusts New Jersey's motor fuel and petroleum products taxes based on monthly gasoline prices. If the average retail price of unleaded regular gasoline exceeds $4.50 per gallon, it triggers a 50% tax reduction (between $4.51-$5.00), 75% reduction ($5.01-$5.50), or full tax suspension (over $5.50) for highway fuels like gasoline and diesel during June-August 2022. The tax changes apply to fuel sellers (e.g., gas stations), requiring them to report reduced tax payments and pass savings to consumers through lower retail prices. The bill specifically targets price-driven tax relief during a defined three-month period, not ongoing policy.