Fuel

The EPA has proposed cutting back on the minimum required volume of renewable fuels produced in 2018 and putting the brakes on the minimum volume of biomass-based diesel produced in the United States in 2019.

Oil was steady amid mixed signals on U.S. crude inventories, with industry data showing supplies increased last week while government statistics were expected to show a decline.

The U.S. average diesel price has risen a cent to $2.491, the Department of Energy said July 17. The fuel has increased 2.6 cents over three weeks.

South Carolina on July 1 began a six-year trek that will raise taxes on gasoline and diesel fuel by 2 cents a gallon each July into 2022.

Proponents of an initiative to repeal gas tax increases in California plan to sue over the state-drafted title and summary for the ballot measure, which they say is misleading and negative.

U.S. crude producers are still set to pump record amounts of the commodity next year, but less so than previously projected, according to the latest government estimates.

Royal Dutch Shell, the oil company that spent more than $50 billion to buy natural-gas producer BG Group, is looking to expand demand for the fuel in transport to ensure its output is consumed.

The U.S. average retail price of diesel rose 0.9 cent to $2.481, while oil prices failed to reclaim ground after a sharp drop a week earlier.

Oil prices declined for the week of July 3, as expanded U.S. drilling activity and added production offset a larger-than-expected drop in stockpiles.

The U.S. average retail price of diesel rose 0.7 cent to $2.472 as U.S. oil drilling declined and crude prices rebounded to clear $47 a barrel before retreating to about $45, experts said.