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A new study conducted by opponents of a regional cap-and-trade program for vehicle emissions found that assumptions made by Transportation and Climate Initiative about the impact on the price of gas were greatly underestimated, and the program could increase the price of a gallon of gas by 26 cents.

The Beacon Hill Institute and the Massachusetts Fiscal Alliance Foundation released the study Tuesday.

The groups said that if TCI comes to fruition the cost of a gallon of gas in participating states could increase between 18 cents and 26 cents. That exceeds the 5-to-17-cent estimate made by the coalition late last year.

The study, done by the Beacon Hill Institute, also concluded that if TCI states pursue a 25 percent reduction in emissions – the most aggressive path under consideration – Massachusetts would lose 9,600 private sector jobs in the first year, and households will face an added annual expense of $738, taking roughly $932 million out of the economy.

Reps. David DeCoste of Norwell and Alyson Sullivan of Abington, both Republicans, and Christopher Carlozzi of the National Federation of Independent Business joined with BHI and MassFiscal officials to release the report.

DeCoste said the state should be looking at strategies like increasing parking at MBTA stations to reduce carbon emissions. He also said he had a personal interest in how countries like Sweden and Japan were burning their trash for fuel.

Sullivan said she also supported Gov. Charlie Baker’s proposal to give companies tax credits to encourage employees to work remotely.