Affordable Fuel for Consumers Act of 2008

[AI summary unavailable — showing source text] Affordable Fuel for Consumers Act of 2008 - Expresses the sense of Congress that the President should stop filling the Strategic Petroleum Reserve (SPR) until the price of petroleum no longer has a major adverse impact upon the national economy. Amends the Clean Air Act to authorize the Administrator of the Environmental Protection Agency (EPA) to give preference to approval of state implementation plan provisions if they require the use of either: (1) certain reformulated gasoline; or (2) gasoline having a specified Reid Vapor Pressure for the high ozone season. Amends the Sherman Act to prohibit actions of a foreign entity that impact upon the market, supply, price, or distribution in the United States of oil, natural gas, or any other petroleum product. Amends the Internal Revenue Code of 1986 to set forth: (1) a 60-day suspension of taxes on highway motor fuels; (2) a temporary expensing of property pertaining to oil and natural gas exploration and production; and (3) an investment tax credit on property for oil shale extraction and processing. Directs the Secretary of the Interior to establish and implement procedures for a competitive oil and gas leasing program on the Arctic…