Fuel

Liquefied natural gas shipping costs will increase, driven by rising charter rates, higher fuel costs and the growth in interbasin trade flows, according to estimations by Fitch Solutions Macro Research.

Royal Dutch Shell and its partners announced an agreement to invest in a multibillion-dollar liquefied natural gas project in western Canada — the largest of its kind in years that will carve out the fastest route to Asia for North American gas.

The U.S. average retail price of diesel spiked 4.2 cents to $3.313 a gallon as oil prices climbed to levels not seen in four years. Besides oil prices being at a four-year high, diesel is at its highest price since Dec. 15, 2014, when it was $3.419.

Marathon Petroleum Corp. officially closed a $23.3 billion deal Oct. 1 in which it acquired all the outstanding shares of Texas refining company Andeavor.

Elon Musk will give up the role of Tesla Inc. chairman and pay a $20 million penalty to settle fraud charges brought by the U.S. over his claims about taking the company private.

Volvo Trucks announced it would commercialize all-electric trucks in North America in 2020 after introducing them in California next year, a move made in conjunction with a partnership that includes Volvo Group, California’s South Coast Air Quality Management District and industry leaders in transportation and electrical charging infrastructure.

A campaign bankrolled by the oil industry has raised $20.46 million to defeat a carbon-pollution fee on the ballot in Washington state aiming at tackling climate change.

U.S. consumer spending edged up a moderate 0.3% in August, the smallest gain in six months, as sales of cars and other durable goods fell.

Carrier Transicold Europe showcased several new products at the IAA Commercial Vehicles Show in Hanover, Germany, as well as its sustainable transport solutions.

Former Pilot Flying J President Mark Hazelwood was sentenced to 12½ years in prison and fined $750,000 on Sept. 26 for his leadership role in a multimillion-dollar scheme to cheat truckers out of diesel fuel rebates.