diesel News Updates

President Donald Trump signed an executive order Oct. 5 aimed at lowering diesel costs as high fuel prices continue to pressure trucking fleets. 

Most truck stops don't stock red diesel, and  it's uncertain whether federal tax obligations will be waived or merely postponed. 

“It’s killing the whole nation,” said Missouri farmer Marty Richardson, who is reluctant to harvest his rain-drenched corn fields as his machines will chew up more diesel in the mud and he can’t afford to waste a drop.

Fuel that is usually used for off-road purposes is exempt from the federal excise tax of 24 cents a gallon. 

President Trump said he won’t ban U.S. diesel exports, after Group of Seven nations and their partners agreed to release some of their emergency fuel stockpiles.

Trump announced the action Oct. 2 on social media without offering details on which countries were releasing reserves or at what volumes.

The release, being coordinated by the International Energy Agency, will take place over the next four months, French President Emmanuel Macron said.

The electrification of road freight is emerging as a structural force that could undermine long-term oil demand across the world.

Dyed diesel is sold without a motor fuels tax, and so is typically prohibited for vehicles on public roadways, confining its use to agricultural operations and other off-road purposes.  

The ATA For-Hire Truck Tonnage Index fell 0.5% from July to 112.7, down from 113.3. The index also declined 1.6% year over year.