Fuel Emergency Relief Act

[AI summary unavailable — showing source text] Fuel Emergency Relief Act - Directs the Secretary of Energy to establish a fuel assistance block grant program to assist states to provide needs-based assistance to resident households of consumers of high-priced fuel. Amends the Internal Revenue Code to: (1) establish in the Treasury the Fuel Assistance Block Grant Trust Fund; and (2) require certain integrated oil taxpayers to adjust, according to a specified formula, the valuation of LIFO (Last In, First Out) inventories of crude oil, natural gas, or other petroleum product.…