diff --git a/app/_locales/en/messages.json b/app/_locales/en/messages.json
index b3cbda168..f4ad0c777 100644
--- a/app/_locales/en/messages.json
+++ b/app/_locales/en/messages.json
@@ -710,6 +710,9 @@
   "editGasEducationModalTitle": {
     "message": "How to choose?"
   },
+  "editGasFeeModalTitle": {
+    "message": "Edit gas fee"
+  },
   "editGasHigh": {
     "message": "High"
   },
@@ -1011,6 +1014,9 @@
     "message": "Gas limit must be at least $1",
     "description": "$1 is the custom gas limit, in decimal."
   },
+  "gasOption": {
+    "message": "Gas option"
+  },
   "gasPrice": {
     "message": "Gas Price (GWEI)"
   },
@@ -1032,10 +1038,18 @@
   "gasPriceLabel": {
     "message": "Gas price"
   },
+  "gasTimingHoursShort": {
+    "message": "$1 hrs",
+    "description": "$1 represents a number of hours"
+  },
   "gasTimingMinutes": {
     "message": "$1 minutes",
     "description": "$1 represents a number of minutes"
   },
+  "gasTimingMinutesShort": {
+    "message": "$1 min",
+    "description": "$1 represents a number of minutes"
+  },
   "gasTimingNegative": {
     "message": "Maybe in $1",
     "description": "$1 represents an amount of time"
@@ -1048,6 +1062,10 @@
     "message": "$1 seconds",
     "description": "$1 represents a number of seconds"
   },
+  "gasTimingSecondsShort": {
+    "message": "$1 sec",
+    "description": "$1 represents a number of seconds"
+  },
   "gasTimingVeryPositive": {
     "message": "Very likely in < $1",
     "description": "$1 represents an amount of time"
@@ -2793,6 +2811,9 @@
   "thisWillCreate": {
     "message": "This will create a new wallet and Secret Recovery Phrase"
   },
+  "time": {
+    "message": "Time"
+  },
   "tips": {
     "message": "Tips"
   },
diff --git a/ui/components/app/app-components.scss b/ui/components/app/app-components.scss
index d76c2998f..e5a5a1882 100644
--- a/ui/components/app/app-components.scss
+++ b/ui/components/app/app-components.scss
@@ -13,6 +13,8 @@
 @import 'connected-status-indicator/index';
 @import 'edit-gas-display/index';
 @import 'edit-gas-display-education/index';
+@import 'edit-gas-fee-popover/index';
+@import 'edit-gas-fee-popover/edit-gas-item/index';
 @import 'gas-customization/gas-modal-page-container/index';
 @import 'gas-customization/gas-price-button-group/index';
 @import 'gas-customization/index';
diff --git a/ui/components/app/confirm-page-container/confirm-page-container.component.js b/ui/components/app/confirm-page-container/confirm-page-container.component.js
index 117318e3d..33c07d56a 100644
--- a/ui/components/app/confirm-page-container/confirm-page-container.component.js
+++ b/ui/components/app/confirm-page-container/confirm-page-container.component.js
@@ -8,12 +8,16 @@ import { GasFeeContextProvider } from '../../../contexts/gasFee';
 import ErrorMessage from '../../ui/error-message';
 import { TRANSACTION_TYPES } from '../../../../shared/constants/transaction';
 import Dialog from '../../ui/dialog';
+import EditGasFeePopover from '../edit-gas-fee-popover/edit-gas-fee-popover';
 import {
   ConfirmPageContainerHeader,
   ConfirmPageContainerContent,
   ConfirmPageContainerNavigation,
 } from '.';
 
+// eslint-disable-next-line prefer-destructuring
+const EIP_1559_V2 = process.env.EIP_1559_V2;
+
 export default class ConfirmPageContainer extends Component {
   static contextTypes = {
     t: PropTypes.func,
@@ -225,13 +229,16 @@ export default class ConfirmPageContainer extends Component {
               )}
             </PageContainerFooter>
           )}
-          {editingGas && (
+          {editingGas && !EIP_1559_V2 && (
             <EditGasPopover
               mode={EDIT_GAS_MODES.MODIFY_IN_PLACE}
               onClose={handleCloseEditGas}
               transaction={currentTransaction}
             />
           )}
+          {editingGas && EIP_1559_V2 && (
+            <EditGasFeePopover onClose={handleCloseEditGas} />
+          )}
         </div>
       </GasFeeContextProvider>
     );
diff --git a/ui/components/app/edit-gas-fee-popover/edit-gas-fee-popover.js b/ui/components/app/edit-gas-fee-popover/edit-gas-fee-popover.js
new file mode 100644
index 000000000..84f31a256
--- /dev/null
+++ b/ui/components/app/edit-gas-fee-popover/edit-gas-fee-popover.js
@@ -0,0 +1,49 @@
+import React from 'react';
+import PropTypes from 'prop-types';
+
+import { useI18nContext } from '../../../hooks/useI18nContext';
+import Popover from '../../ui/popover';
+import I18nValue from '../../ui/i18n-value';
+import LoadingHeartBeat from '../../ui/loading-heartbeat';
+
+import EditGasItem from './edit-gas-item';
+
+const EditGasFeePopover = ({ onClose }) => {
+  const t = useI18nContext();
+
+  return (
+    <Popover
+      title={t('editGasFeeModalTitle')}
+      onClose={onClose}
+      className="edit-gas-fee-popover"
+    >
+      <>
+        {process.env.IN_TEST === 'true' ? null : <LoadingHeartBeat />}
+        <div className="edit-gas-fee-popover__wrapper">
+          <div className="edit-gas-fee-popover__content">
+            <div className="edit-gas-fee-popover__content__header">
+              <span className="edit-gas-fee-popover__content__header-option">
+                <I18nValue messageKey="gasOption" />
+              </span>
+              <span className="edit-gas-fee-popover__content__header-time">
+                <I18nValue messageKey="time" />
+              </span>
+              <span className="edit-gas-fee-popover__content__header-max-fee">
+                <I18nValue messageKey="maxFee" />
+              </span>
+            </div>
+            <EditGasItem estimateType="low" onClose={onClose} />
+            <EditGasItem estimateType="medium" onClose={onClose} />
+            <EditGasItem estimateType="high" onClose={onClose} />
+          </div>
+        </div>
+      </>
+    </Popover>
+  );
+};
+
+EditGasFeePopover.propTypes = {
+  onClose: PropTypes.func,
+};
+
+export default EditGasFeePopover;
diff --git a/ui/components/app/edit-gas-fee-popover/edit-gas-fee-popover.test.js b/ui/components/app/edit-gas-fee-popover/edit-gas-fee-popover.test.js
new file mode 100644
index 000000000..cd4f772dc
--- /dev/null
+++ b/ui/components/app/edit-gas-fee-popover/edit-gas-fee-popover.test.js
@@ -0,0 +1,93 @@
+import React from 'react';
+import { screen } from '@testing-library/react';
+
+import { renderWithProvider } from '../../../../test/lib/render-helpers';
+import { ETH } from '../../../helpers/constants/common';
+import configureStore from '../../../store/store';
+import { GasFeeContextProvider } from '../../../contexts/gasFee';
+
+import EditGasFeePopover from './edit-gas-fee-popover';
+
+jest.mock('../../../store/actions', () => ({
+  disconnectGasFeeEstimatePoller: jest.fn(),
+  getGasFeeEstimatesAndStartPolling: jest
+    .fn()
+    .mockImplementation(() => Promise.resolve()),
+  addPollingTokenToAppState: jest.fn(),
+}));
+
+const MOCK_FEE_ESTIMATE = {
+  low: {
+    minWaitTimeEstimate: 360000,
+    maxWaitTimeEstimate: 300000,
+    suggestedMaxPriorityFeePerGas: '3',
+    suggestedMaxFeePerGas: '53',
+  },
+  medium: {
+    minWaitTimeEstimate: 30000,
+    maxWaitTimeEstimate: 60000,
+    suggestedMaxPriorityFeePerGas: '7',
+    suggestedMaxFeePerGas: '70',
+  },
+  high: {
+    minWaitTimeEstimate: 15000,
+    maxWaitTimeEstimate: 15000,
+    suggestedMaxPriorityFeePerGas: '10',
+    suggestedMaxFeePerGas: '100',
+  },
+  estimatedBaseFee: '50',
+};
+
+const renderComponent = () => {
+  const store = configureStore({
+    metamask: {
+      nativeCurrency: ETH,
+      provider: {},
+      cachedBalances: {},
+      accounts: {
+        '0xAddress': {
+          address: '0xAddress',
+          balance: '0x176e5b6f173ebe66',
+        },
+      },
+      selectedAddress: '0xAddress',
+      featureFlags: { advancedInlineGas: true },
+      gasFeeEstimates: MOCK_FEE_ESTIMATE,
+    },
+  });
+
+  return renderWithProvider(
+    <GasFeeContextProvider transaction={{ txParams: { gas: '0x5208' } }}>
+      <EditGasFeePopover />
+    </GasFeeContextProvider>,
+    store,
+  );
+};
+
+describe('EditGasFeePopover', () => {
+  it('should renders low / medium / high options', () => {
+    renderComponent();
+
+    expect(screen.queryByText('🐢')).toBeInTheDocument();
+    expect(screen.queryByText('🦊')).toBeInTheDocument();
+    expect(screen.queryByText('🦍')).toBeInTheDocument();
+    expect(screen.queryByText('Low')).toBeInTheDocument();
+    expect(screen.queryByText('Market')).toBeInTheDocument();
+    expect(screen.queryByText('Aggressive')).toBeInTheDocument();
+  });
+
+  it('should show time estimates', () => {
+    renderComponent();
+    console.log(document.body.innerHTML);
+    expect(screen.queryByText('6 min')).toBeInTheDocument();
+    expect(screen.queryByText('30 sec')).toBeInTheDocument();
+    expect(screen.queryByText('15 sec')).toBeInTheDocument();
+  });
+
+  it('should show gas fee estimates', () => {
+    renderComponent();
+    expect(screen.queryByTitle('0.001113 ETH')).toBeInTheDocument();
+    expect(screen.queryByTitle('0.00147 ETH')).toBeInTheDocument();
+    expect(screen.queryByTitle('0.0021 ETH')).toBeInTheDocument();
+  });
+});
diff --git a/ui/components/app/edit-gas-fee-popover/edit-gas-item/edit-gas-item.js b/ui/components/app/edit-gas-fee-popover/edit-gas-item/edit-gas-item.js
new file mode 100644
index 000000000..59cf3ac01
--- /dev/null
+++ b/ui/components/app/edit-gas-fee-popover/edit-gas-item/edit-gas-item.js
@@ -0,0 +1,84 @@
+import React from 'react';
+import PropTypes from 'prop-types';
+import classNames from 'classnames';
+
+import { getMaximumGasTotalInHexWei } from '../../../../../shared/modules/gas.utils';
+import { PRIORITY_LEVEL_ICON_MAP } from '../../../../helpers/constants/gas';
+import { PRIMARY } from '../../../../helpers/constants/common';
+import {
+  decGWEIToHexWEI,
+  decimalToHex,
+} from '../../../../helpers/utils/conversions.util';
+import { toHumanReadableTime } from '../../../../helpers/utils/util';
+import { useGasFeeContext } from '../../../../contexts/gasFee';
+import { useI18nContext } from '../../../../hooks/useI18nContext';
+import I18nValue from '../../../ui/i18n-value';
+import InfoTooltip from '../../../ui/info-tooltip';
+import UserPreferencedCurrencyDisplay from '../../user-preferenced-currency-display';
+
+const EditGasItem = ({ estimateType, onClose }) => {
+  const {
+    estimateUsed,
+    gasFeeEstimates,
+    gasLimit,
+    setEstimateToUse,
+    updateTransaction,
+  } = useGasFeeContext();
+  const t = useI18nContext();
+
+  const { minWaitTimeEstimate, suggestedMaxFeePerGas } =
+    gasFeeEstimates[estimateType] || {};
+  const hexMaximumTransactionFee = suggestedMaxFeePerGas
+    ? getMaximumGasTotalInHexWei({
+        gasLimit: decimalToHex(gasLimit),
+        maxFeePerGas: decGWEIToHexWEI(suggestedMaxFeePerGas),
+      })
+    : null;
+
+  const onOptionSelect = () => {
+    setEstimateToUse(estimateType);
+    updateTransaction(estimateType);
+    onClose();
+  };
+
+  return (
+    <div
+      className={classNames('edit-gas-item', {
+        'edit-gas-item--selected': estimateType === estimateUsed,
+      })}
+      role="button"
+      onClick={onOptionSelect}
+    >
+      <span className="edit-gas-item__name">
+        <span className="edit-gas-item__icon">
+          {PRIORITY_LEVEL_ICON_MAP[estimateType]}
+        </span>
+        <I18nValue messageKey={estimateType} />
+      </span>
+      <span
+        className={`edit-gas-item__time-estimate edit-gas-item__time-estimate-${estimateType}`}
+      >
+        {minWaitTimeEstimate && toHumanReadableTime(t, minWaitTimeEstimate)}
+      </span>
+      <span
+        className={`edit-gas-item__fee-estimate edit-gas-item__fee-estimate-${estimateType}`}
+      >
+        <UserPreferencedCurrencyDisplay
+          key="editGasSubTextFeeAmount"
+          type={PRIMARY}
+          value={hexMaximumTransactionFee}
+        />
+      </span>
+      <span className="edit-gas-item__tooltip">
+        <InfoTooltip position="top" />
+      </span>
+    </div>
+  );
+};
+
+EditGasItem.propTypes = {
+  estimateType: PropTypes.string,
+  onClose: PropTypes.func,
+};
+
+export default EditGasItem;
diff --git a/ui/components/app/edit-gas-fee-popover/edit-gas-item/edit-gas-item.test.js b/ui/components/app/edit-gas-fee-popover/edit-gas-item/edit-gas-item.test.js
new file mode 100644
index 000000000..4d8a40f88
--- /dev/null
+++ b/ui/components/app/edit-gas-fee-popover/edit-gas-item/edit-gas-item.test.js
@@ -0,0 +1,93 @@
+import React from 'react';
+import { screen } from '@testing-library/react';
+
+import { renderWithProvider } from '../../../../../test/lib/render-helpers';
+import { ETH } from '../../../../helpers/constants/common';
+import configureStore from '../../../../store/store';
+import { GasFeeContextProvider } from '../../../../contexts/gasFee';
+
+import EditGasItem from './edit-gas-item';
+
+jest.mock('../../../../store/actions', () => ({
+  disconnectGasFeeEstimatePoller: jest.fn(),
+  getGasFeeEstimatesAndStartPolling: jest
+    .fn()
+    .mockImplementation(() => Promise.resolve()),
+  addPollingTokenToAppState: jest.fn(),
+}));
+
+const MOCK_FEE_ESTIMATE = {
+  low: {
+    minWaitTimeEstimate: 360000,
+    maxWaitTimeEstimate: 300000,
+    suggestedMaxPriorityFeePerGas: '3',
+    suggestedMaxFeePerGas: '53',
+  },
+  medium: {
+    minWaitTimeEstimate: 30000,
+    maxWaitTimeEstimate: 60000,
+    suggestedMaxPriorityFeePerGas: '7',
+    suggestedMaxFeePerGas: '70',
+  },
+  high: {
+    minWaitTimeEstimate: 15000,
+    maxWaitTimeEstimate: 15000,
+    suggestedMaxPriorityFeePerGas: '10',
+    suggestedMaxFeePerGas: '100',
+  },
+  estimatedBaseFee: '50',
+};
+
+const renderComponent = (props) => {
+  const store = configureStore({
+    metamask: {
+      nativeCurrency: ETH,
+      provider: {},
+      cachedBalances: {},
+      accounts: {
+        '0xAddress': {
+          address: '0xAddress',
+          balance: '0x176e5b6f173ebe66',
+        },
+      },
+      selectedAddress: '0xAddress',
+      featureFlags: { advancedInlineGas: true },
+      gasFeeEstimates: MOCK_FEE_ESTIMATE,
+    },
+  });
+
+  return renderWithProvider(
+    <GasFeeContextProvider transaction={{ txParams: { gas: '0x5208' } }}>
+      <EditGasItem estimateType="low" {...props} />
+    </GasFeeContextProvider>,
+    store,
+  );
+};
+
+describe('EditGasItem', () => {
+  it('should renders low gas estimate options for estimateType low', () => {
+    renderComponent({ estimateType: 'low' });
+
+    expect(screen.queryByText('🐢')).toBeInTheDocument();
+    expect(screen.queryByText('Low')).toBeInTheDocument();
+    expect(screen.queryByText('6 min')).toBeInTheDocument();
+    expect(screen.queryByTitle('0.001113 ETH')).toBeInTheDocument();
+  });
+
+  it('should renders market gas estimate options for estimateType medium', () => {
+    renderComponent({ estimateType: 'medium' });
+
+    expect(screen.queryByText('🦊')).toBeInTheDocument();
+    expect(screen.queryByText('Market')).toBeInTheDocument();
+    expect(screen.queryByText('30 sec')).toBeInTheDocument();
+    expect(screen.queryByTitle('0.00147 ETH')).toBeInTheDocument();
+  });
+
+  it('should renders aggressive gas estimate options for estimateType high', () => {
+    renderComponent({ estimateType: 'high' });
+
+    expect(screen.queryByText('🦍')).toBeInTheDocument();
+    expect(screen.queryByText('15 sec')).toBeInTheDocument();
+    expect(screen.queryByTitle('0.0021 ETH')).toBeInTheDocument();
+  });
+});
diff --git a/ui/components/app/edit-gas-fee-popover/edit-gas-item/index.js b/ui/components/app/edit-gas-fee-popover/edit-gas-item/index.js
new file mode 100644
index 000000000..3ba916857
--- /dev/null
+++ b/ui/components/app/edit-gas-fee-popover/edit-gas-item/index.js
@@ -0,0 +1 @@
+export { default } from './edit-gas-item';
diff --git a/ui/components/app/edit-gas-fee-popover/edit-gas-item/index.scss b/ui/components/app/edit-gas-fee-popover/edit-gas-item/index.scss
new file mode 100644
index 000000000..17072a813
--- /dev/null
+++ b/ui/components/app/edit-gas-fee-popover/edit-gas-item/index.scss
@@ -0,0 +1,56 @@
+.edit-gas-item {
+  border-radius: 24px;
+  color: $ui-4;
+  cursor: pointer;
+  font-size: 12px;
+  margin: 12px 0;
+  padding: 4px 12px;
+  height: 32px;
+
+  &--selected {
+    background-color: $ui-1;
+  }
+
+  &__name {
+    display: inline-block;
+    color: $ui-black;
+    font-size: 12px;
+    font-weight: bold;
+    width: 40%;
+  }
+
+  &__icon {
+    margin-right: 4px;
+  }
+
+  &__time-estimate {
+    display: inline-block;
+    width: 20%;
+  }
+
+  &__fee-estimate {
+    display: inline-block;
+    width: 30%;
+    white-space: nowrap;
+  }
+
+  &__tooltip {
+    display: inline-block;
+    text-align: right;
+    width: 10%;
+
+    .info-tooltip {
+      display: inline-block;
+    }
+  }
+
+  &__time-estimate-low,
+  &__fee-estimate-high {
+    color: $secondary-1;
+  }
+
+  &__time-estimate-medium,
+  &__time-estimate-high {
+    color: $success-3;
+  }
+}
diff --git a/ui/components/app/edit-gas-fee-popover/index.js b/ui/components/app/edit-gas-fee-popover/index.js
new file mode 100644
index 000000000..d2e6862b9
--- /dev/null
+++ b/ui/components/app/edit-gas-fee-popover/index.js
@@ -0,0 +1 @@
+export { default } from './edit-gas-fee-popover';
diff --git a/ui/components/app/edit-gas-fee-popover/index.scss b/ui/components/app/edit-gas-fee-popover/index.scss
new file mode 100644
index 000000000..0e149efbc
--- /dev/null
+++ b/ui/components/app/edit-gas-fee-popover/index.scss
@@ -0,0 +1,35 @@
+.edit-gas-fee-popover {
+  @media screen and (min-width: $break-large) {
+    max-height: 84vh;
+  }
+
+  &__wrapper {
+    border-top: 1px solid $ui-grey;
+  }
+
+  &__content {
+    padding: 16px 12px;
+
+    &__header {
+      color: $ui-4;
+      font-size: 10px;
+      font-weight: 700;
+      margin: 0 12px;
+
+      &-option {
+        display: inline-block;
+        width: 40%;
+      }
+
+      &-time {
+        display: inline-block;
+        width: 20%;
+      }
+
+      &-max-fee {
+        display: inline-block;
+        width: 30%;
+      }
+    }
+  }
+}
diff --git a/ui/components/app/gas-timing/gas-timing.component.js b/ui/components/app/gas-timing/gas-timing.component.js
index 41fc6bed5..1da1c6a43 100644
--- a/ui/components/app/gas-timing/gas-timing.component.js
+++ b/ui/components/app/gas-timing/gas-timing.component.js
@@ -50,7 +50,7 @@ export default function GasTiming({
 
   const [customEstimatedTime, setCustomEstimatedTime] = useState(null);
   const t = useContext(I18nContext);
-  const { estimateToUse } = useGasFeeContext();
+  const { estimateUsed } = useGasFeeContext();
 
   // If the user has chosen a value lower than the low gas fee estimate,
   // We'll need to use the useEffect hook below to make a call to calculate
@@ -155,7 +155,7 @@ export default function GasTiming({
       ]);
     }
   } else {
-    if (!EIP_1559_V2 || estimateToUse === 'low') {
+    if (!EIP_1559_V2 || estimateUsed === 'low') {
       attitude = 'negative';
     }
     // If the user has chosen a value less than our low estimate,
diff --git a/ui/components/app/transaction-detail/transaction-detail.component.js b/ui/components/app/transaction-detail/transaction-detail.component.js
index b06d43af8..64677883a 100644
--- a/ui/components/app/transaction-detail/transaction-detail.component.js
+++ b/ui/components/app/transaction-detail/transaction-detail.component.js
@@ -1,40 +1,29 @@
-import React, { useContext } from 'react';
+import React from 'react';
 import PropTypes from 'prop-types';
 
-import { I18nContext } from '../../../contexts/i18n';
 import { useGasFeeContext } from '../../../contexts/gasFee';
 import InfoTooltip from '../../ui/info-tooltip/info-tooltip';
 import Typography from '../../ui/typography/typography';
 
 import TransactionDetailItem from '../transaction-detail-item/transaction-detail-item.component';
 import { COLORS } from '../../../helpers/constants/design-system';
-
-const GasLevelIconMap = {
-  low: '🐢',
-  medium: '🦊',
-  high: '🦍',
-  dappSuggested: '🌐',
-  custom: '⚙',
-};
+import { PRIORITY_LEVEL_ICON_MAP } from '../../../helpers/constants/gas';
+import { useI18nContext } from '../../../hooks/useI18nContext';
 
 export default function TransactionDetail({ rows = [], onEdit }) {
   // eslint-disable-next-line prefer-destructuring
   const EIP_1559_V2 = process.env.EIP_1559_V2;
 
-  const t = useContext(I18nContext);
+  const t = useI18nContext();
   const {
-    estimateToUse,
     gasLimit,
     gasPrice,
-    isUsingDappSuggestedGasFees,
+    estimateUsed,
     maxFeePerGas,
     maxPriorityFeePerGas,
     transaction,
     supportsEIP1559,
   } = useGasFeeContext();
-  const estimateUsed = isUsingDappSuggestedGasFees
-    ? 'dappSuggested'
-    : estimateToUse;
 
   if (EIP_1559_V2 && estimateUsed) {
     return (
@@ -42,7 +31,7 @@ export default function TransactionDetail({ rows = [], onEdit }) {
         <div className="transaction-detail-edit-V2">
           <button onClick={onEdit}>
             <span className="transaction-detail-edit-V2__icon">
-              {`${GasLevelIconMap[estimateUsed]} `}
+              {`${PRIORITY_LEVEL_ICON_MAP[estimateUsed]} `}
             </span>
             <span className="transaction-detail-edit-V2__label">
               {t(estimateUsed)}
diff --git a/ui/helpers/constants/gas.js b/ui/helpers/constants/gas.js
index 4f2d8612b..726057342 100644
--- a/ui/helpers/constants/gas.js
+++ b/ui/helpers/constants/gas.js
@@ -31,3 +31,11 @@ export function getGasFormErrorText(type, t, { minimumGasLimit } = {}) {
       return '';
   }
 }
+
+export const PRIORITY_LEVEL_ICON_MAP = {
+  low: '🐢',
+  medium: '🦊',
+  high: '🦍',
+  dappSuggested: '🌐',
+  custom: '⚙',
+};
diff --git a/ui/helpers/utils/util.js b/ui/helpers/utils/util.js
index b20e69559..4b12797f9 100644
--- a/ui/helpers/utils/util.js
+++ b/ui/helpers/utils/util.js
@@ -408,3 +408,19 @@ export function getURLHost(url) {
 export function getURLHostName(url) {
   return getURL(url)?.hostname || '';
 }
+
+// Once we reach this threshold, we switch to higher unit
+const MINUTE_CUTOFF = 90 * 60;
+const SECOND_CUTOFF = 90;
+
+export const toHumanReadableTime = (t, milliseconds) => {
+  if (milliseconds === undefined || milliseconds === null) return '';
+  const seconds = Math.ceil(milliseconds / 1000);
+  if (seconds <= SECOND_CUTOFF) {
+    return t('gasTimingSecondsShort', [seconds]);
+  }
+  if (seconds <= MINUTE_CUTOFF) {
+    return t('gasTimingMinutesShort', [Math.ceil(seconds / 60)]);
+  }
+  return t('gasTimingHoursShort', [Math.ceil(seconds / 3600)]);
+};
diff --git a/ui/helpers/utils/util.test.js b/ui/helpers/utils/util.test.js
index 7038dd79e..1f9084865 100644
--- a/ui/helpers/utils/util.test.js
+++ b/ui/helpers/utils/util.test.js
@@ -301,4 +301,43 @@ describe('util', () => {
       });
     });
   });
+
+  describe('toHumanReadableTime()', () => {
+    const t = (key, number) => {
+      switch (key) {
+        case 'gasTimingSecondsShort':
+          return `${number} sec`;
+        case 'gasTimingMinutesShort':
+          return `${number} min`;
+        case 'gasTimingHoursShort':
+          return `${number} hrs`;
+        default:
+          return '';
+      }
+    };
+    it('should return empty string if milliseconds passed is undefined', () => {
+      expect(util.toHumanReadableTime(t)).toStrictEqual('');
+    });
+    it('should return rounded value for time', () => {
+      expect(util.toHumanReadableTime(t, 6300)).toStrictEqual('7 sec');
+    });
+    it('should return value in seconds for milliseconds passed is < 9000', () => {
+      expect(util.toHumanReadableTime(t, 6000)).toStrictEqual('6 sec');
+    });
+    it('should return value in seconds for milliseconds passed is > 6000 and <= 9000', () => {
+      expect(util.toHumanReadableTime(t, 9000)).toStrictEqual('9 sec');
+    });
+    it('should return value in minutes for milliseconds passed is > 90000', () => {
+      expect(util.toHumanReadableTime(t, 90001)).toStrictEqual('2 min');
+    });
+    it('should return value in minutes for milliseconds passed is > 90000 and <= 5400000', () => {
+      expect(util.toHumanReadableTime(t, 5400000)).toStrictEqual('90 min');
+    });
+    it('should return value in hours for milliseconds passed is > 5400000', () => {
+      expect(util.toHumanReadableTime(t, 5400001)).toStrictEqual('2 hrs');
+    });
+    it('should return value in hours for milliseconds passed very high above 5400000', () => {
+      expect(util.toHumanReadableTime(t, 7200000)).toStrictEqual('2 hrs');
+    });
+  });
 });
diff --git a/ui/hooks/gasFeeInput/useGasFeeInputs.js b/ui/hooks/gasFeeInput/useGasFeeInputs.js
index 51021cc42..b7d457aa7 100644
--- a/ui/hooks/gasFeeInput/useGasFeeInputs.js
+++ b/ui/hooks/gasFeeInput/useGasFeeInputs.js
@@ -21,6 +21,7 @@ import { useGasPriceInput } from './useGasPriceInput';
 import { useMaxFeePerGasInput } from './useMaxFeePerGasInput';
 import { useMaxPriorityFeePerGasInput } from './useMaxPriorityFeePerGasInput';
 import { useGasEstimates } from './useGasEstimates';
+import { useTransactionFunctions } from './useTransactionFunctions';
 
 /**
  * @typedef {Object} GasFeeInputReturnType
@@ -100,14 +101,14 @@ export function useGasFeeInputs(
     return defaultEstimateToUse;
   });
 
-  const [
-    isUsingDappSuggestedGasFees,
-    setIsUsingDappSuggestedGasFees,
-  ] = useState(() =>
-    Boolean(areDappSuggestedAndTxParamGasFeesTheSame(transaction)),
-  );
+  const [estimateUsed, setEstimateUsed] = useState(() => {
+    if (areDappSuggestedAndTxParamGasFeesTheSame(transaction)) {
+      return 'dappSuggested';
+    }
+    return estimateToUse;
+  });
 
-  const [gasLimit, setGasLimit] = useState(
+  const [gasLimit, setGasLimit] = useState(() =>
     Number(hexToDecimal(transaction?.txParams?.gas ?? '0x0')),
   );
 
@@ -197,6 +198,17 @@ export function useGasFeeInputs(
     }
   }, [minimumGasLimit, gasErrors.gasLimit, transaction]);
 
+  const { updateTransaction } = useTransactionFunctions({
+    defaultEstimateToUse,
+    gasLimit,
+    gasPrice,
+    maxFeePerGas,
+    maxPriorityFeePerGas,
+    gasFeeEstimates,
+    supportsEIP1559,
+    transaction,
+  });
+
   // When a user selects an estimate level, it will wipe out what they have
   // previously put in the inputs. This returns the inputs to the estimated
   // values at the level specified.
@@ -208,7 +220,7 @@ export function useGasFeeInputs(
       setMaxPriorityFeePerGas(null);
       setGasPrice(null);
       setGasPriceHasBeenManuallySet(false);
-      setIsUsingDappSuggestedGasFees(false);
+      setEstimateUsed(estimateLevel);
     },
     [
       setInternalEstimateToUse,
@@ -217,7 +229,7 @@ export function useGasFeeInputs(
       setMaxPriorityFeePerGas,
       setGasPrice,
       setGasPriceHasBeenManuallySet,
-      setIsUsingDappSuggestedGasFees,
+      setEstimateUsed,
     ],
   );
 
@@ -230,6 +242,7 @@ export function useGasFeeInputs(
     setMaxFeePerGas(maxFeePerGas);
     setMaxPriorityFeePerGas(maxPriorityFeePerGas);
     setGasPriceHasBeenManuallySet(true);
+    setEstimateUsed('custom');
   }, [
     setInternalEstimateToUse,
     handleGasLimitOutOfBoundError,
@@ -263,7 +276,7 @@ export function useGasFeeInputs(
     estimatedMaximumNative,
     estimatedMinimumNative,
     isGasEstimatesLoading,
-    isUsingDappSuggestedGasFees,
+    estimateUsed,
     gasFeeEstimates,
     gasEstimateType,
     estimatedGasFeeTimeBounds,
@@ -276,5 +289,6 @@ export function useGasFeeInputs(
     gasWarnings,
     hasGasErrors,
     supportsEIP1559,
+    updateTransaction,
   };
 }
diff --git a/ui/hooks/gasFeeInput/useGasFeeInputs.test.js b/ui/hooks/gasFeeInput/useGasFeeInputs.test.js
index 5127c61b7..f32abbe32 100644
--- a/ui/hooks/gasFeeInput/useGasFeeInputs.test.js
+++ b/ui/hooks/gasFeeInput/useGasFeeInputs.test.js
@@ -37,6 +37,7 @@ jest.mock('react-redux', () => {
   return {
     ...actual,
     useSelector: jest.fn(),
+    useDispatch: () => jest.fn(),
   };
 });
 
diff --git a/ui/hooks/gasFeeInput/useTransactionFunctions.js b/ui/hooks/gasFeeInput/useTransactionFunctions.js
new file mode 100644
index 000000000..bc9068b9b
--- /dev/null
+++ b/ui/hooks/gasFeeInput/useTransactionFunctions.js
@@ -0,0 +1,49 @@
+import { useCallback } from 'react';
+import { useDispatch } from 'react-redux';
+
+import {
+  decGWEIToHexWEI,
+  decimalToHex,
+} from '../../helpers/utils/conversions.util';
+import { updateTransaction as updateTransactionFn } from '../../store/actions';
+
+export const useTransactionFunctions = ({
+  defaultEstimateToUse,
+  gasLimit,
+  gasFeeEstimates,
+  transaction,
+}) => {
+  const dispatch = useDispatch();
+
+  const updateTransaction = useCallback(
+    (estimateType) => {
+      const newGasSettings = {
+        gas: decimalToHex(gasLimit),
+        gasLimit: decimalToHex(gasLimit),
+        estimateSuggested: defaultEstimateToUse,
+        estimateUsed: estimateType,
+      };
+
+      newGasSettings.maxFeePerGas = decGWEIToHexWEI(
+        gasFeeEstimates[estimateType].suggestedMaxFeePerGas,
+      );
+      newGasSettings.maxPriorityFeePerGas = decGWEIToHexWEI(
+        gasFeeEstimates[estimateType].suggestedMaxPriorityFeePerGas,
+      );
+
+      const updatedTxMeta = {
+        ...transaction,
+        userFeeLevel: estimateType || 'custom',
+        txParams: {
+          ...transaction.txParams,
+          ...newGasSettings,
+        },
+      };
+
+      dispatch(updateTransactionFn(updatedTxMeta));
+    },
+    [defaultEstimateToUse, dispatch, gasLimit, gasFeeEstimates, transaction],
+  );
+
+  return { updateTransaction };
+};
diff --git a/ui/pages/confirm-transaction-base/gas-details-item/gas-details-item.js b/ui/pages/confirm-transaction-base/gas-details-item/gas-details-item.js
index 6ac1e0be0..6db82e185 100644
--- a/ui/pages/confirm-transaction-base/gas-details-item/gas-details-item.js
+++ b/ui/pages/confirm-transaction-base/gas-details-item/gas-details-item.js
@@ -31,7 +31,7 @@ const GasDetailsItem = ({
   useNativeCurrencyAsPrimaryCurrency,
 }) => {
   const t = useI18nContext();
-  const { estimateToUse } = useGasFeeContext();
+  const { estimateUsed } = useGasFeeContext();
 
   return (
     <TransactionDetailItem
@@ -96,12 +96,12 @@ const GasDetailsItem = ({
           key="editGasSubTextFeeLabel"
           display="inline-flex"
           className={classNames('gas-details-item__gasfee-label', {
-            'gas-details-item__gas-fee-warning': estimateToUse === 'high',
+            'gas-details-item__gas-fee-warning': estimateUsed === 'high',
           })}
         >
           <Box marginRight={1}>
             <b>
-              {estimateToUse === 'high' && '⚠ '}
+              {estimateUsed === 'high' && '⚠ '}
               <I18nValue messageKey="editGasSubTextFeeLabel" />
             </b>
           </Box>
diff --git a/ui/pages/confirm-transaction-base/low-priority-message/low-priority-message.js b/ui/pages/confirm-transaction-base/low-priority-message/low-priority-message.js
index 41bb5d132..16e80e45d 100644
--- a/ui/pages/confirm-transaction-base/low-priority-message/low-priority-message.js
+++ b/ui/pages/confirm-transaction-base/low-priority-message/low-priority-message.js
@@ -5,10 +5,10 @@ import { useGasFeeContext } from '../../../contexts/gasFee';
 import { useI18nContext } from '../../../hooks/useI18nContext';
 
 const LowPriorityMessage = () => {
-  const { estimateToUse } = useGasFeeContext();
+  const { estimateUsed } = useGasFeeContext();
   const t = useI18nContext();
 
-  if (estimateToUse !== 'low') return null;
+  if (estimateUsed !== 'low') return null;
   return (
     <div className="low-priority-message">
       <ActionableMessage