diff --git a/execution_engine_testing/tests/src/test/explorer/faucet.rs b/execution_engine_testing/tests/src/test/explorer/faucet.rs
index f03ea26bf9..c54e2f614d 100644
--- a/execution_engine_testing/tests/src/test/explorer/faucet.rs
+++ b/execution_engine_testing/tests/src/test/explorer/faucet.rs
@@ -841,13 +841,13 @@ fn faucet_costs() {
     // This test will fail if execution costs vary.  The expected costs should not be updated
     // without understanding why the cost has changed.  If the costs do change, it should be
     // reflected in the "Costs by Entry Point" section of the faucet crate's README.md.
-    const EXPECTED_FAUCET_INSTALL_COST: u64 = 71_691_403_720;
-    const EXPECTED_FAUCET_SET_VARIABLES_COST: u64 = 623_279_550;
-    const EXPECTED_FAUCET_CALL_BY_INSTALLER_COST: u64 = 3_101_326_690;
-    const EXPECTED_FAUCET_CALL_BY_USER_COST: u64 = 3_350_546_610;
+    const EXPECTED_FAUCET_INSTALL_COST: u64 = 75_226_865_930;
+    const EXPECTED_FAUCET_SET_VARIABLES_COST: u64 = 579_464_060;
+    const EXPECTED_FAUCET_CALL_BY_INSTALLER_COST: u64 = 3_040_141_320;
+    const EXPECTED_FAUCET_CALL_BY_USER_COST: u64 = 3_242_199_690;
 
     let installer_account = AccountHash::new([1u8; 32]);
-    let user_account = AccountHash::new([2u8; 32]);
+    let user_account: AccountHash = AccountHash::new([2u8; 32]);
 
     let mut builder = InMemoryWasmTestBuilder::default();
     builder.run_genesis(&PRODUCTION_RUN_GENESIS_REQUEST);
diff --git a/execution_engine_testing/tests/src/test/regression/host_function_metrics_size_and_gas_cost.rs b/execution_engine_testing/tests/src/test/regression/host_function_metrics_size_and_gas_cost.rs
index cfb4287984..884e9c3f52 100644
--- a/execution_engine_testing/tests/src/test/regression/host_function_metrics_size_and_gas_cost.rs
+++ b/execution_engine_testing/tests/src/test/regression/host_function_metrics_size_and_gas_cost.rs
@@ -22,7 +22,7 @@ const CONTRACT_TRANSFER_TO_ACCOUNT_U512: &str = "transfer_to_account_u512.wasm";
 // This value is not systemic, as code is added the size of WASM will increase,
 // you can change this value to reflect the increase in WASM size.
 const HOST_FUNCTION_METRICS_STANDARD_SIZE: usize = 97_569;
-const HOST_FUNCTION_METRICS_STANDARD_GAS_COST: u64 = 375_298_466_170;
+const HOST_FUNCTION_METRICS_STANDARD_GAS_COST: u64 = 347_080_271_020;
 
 /// Acceptable size regression/improvement in percentage.
 const SIZE_MARGIN: usize = 5;
diff --git a/smart_contracts/contracts/explorer/faucet/README.md b/smart_contracts/contracts/explorer/faucet/README.md
index 1f78f375b9..eab18a5255 100644
--- a/smart_contracts/contracts/explorer/faucet/README.md
+++ b/smart_contracts/contracts/explorer/faucet/README.md
@@ -35,7 +35,7 @@ If you try to invoke the contract before these variables are set, then you'll ge
 
 | feature | cost             |
 |---------|------------------|
-| faucet install | `71_691_403_720` |
-| faucet set variables | `623_279_550` |
-| faucet call by installer | `3_101_326_690` |
-| faucet call by user | `3_350_546_610` |
+| faucet install | `75_226_865_930` |
+| faucet set variables | `579_464_060` |
+| faucet call by installer | `3_040_141_320` |
+| faucet call by user | `3_242_199_690` |
diff --git a/smart_contracts/rust-toolchain b/smart_contracts/rust-toolchain
index 2c13f2345f..f9e5e5e397 100644
--- a/smart_contracts/rust-toolchain
+++ b/smart_contracts/rust-toolchain
@@ -1 +1 @@
-nightly-2022-08-03
+nightly-2023-03-25