Trump's executive order on red-dyed diesel will offer little relief, farmers and truckers say
Summary
President Trump signed an executive order aimed at bringing down diesel prices by easing restrictions on red-dye diesel, and a major fuel industry group warned truck stops nationwide to 'proceed with caution'. Farmers, truckers and economists say the move to cut taxes on diesel will provide little relief from record-high fuel prices that have soared since the U.S. attacked Iran months ago. According to economists cited by Fortune, the order only defers a 24.4-cent federal tax on $6.20-a-gallon diesel, adds no new supply and could raise prices for farmers.
Latest: Farmers, truckers and economists said President Trump's order easing restrictions on red-dye diesel will offer little relief from record-high fuel prices, and a fuel industry group warned truck stops to 'proceed with caution'.
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How it unfolded
Wednesday 7 October
Farmers, truckers and economists said President Trump's order easing restrictions on red-dye diesel will offer little relief from record-high fuel prices, and a fuel industry group warned truck stops to 'proceed with caution'.
- 17:27PBS NewsHourTrump's executive order on dyed diesel will offer little relief, farmers and truckers say
- 15:41FortuneTrump’s red-dyed diesel order sounds like a tax cut. Economists say it’s a 24-cent IOU that could raise prices for farmers
- 15:34The Philadelphia InquirerTrump's executive order on dyed diesel will offer little relief, farmers and truckers say
Tuesday 6 October