By Chris Williams
Fox2
The Brief
*The White House is considering expanding sales of red-dyed diesel as fuel prices reach record levels.
*Red-dyed diesel is tax-exempt and typically used in off-road vehicles and equipment for farming and construction.
*Analysts say broader access to the fuel would provide limited relief and would not increase the overall diesel supply.
The White House is weighing regulatory changes that would broaden the sale of red-dyed diesel, a tax-exempt fuel commonly used in agricultural equipment, as prices climb because of supply disruptions tied to the U.S. conflict with Iran, Ukrainian attacks on Russian refineries and declining global inventories.
Analysts say the proposal would do little to address the shrinking supply that has pushed diesel prices to record levels. Here is a look at the problems affecting the diesel market and the potential impact of expanding red-dyed diesel sales.
What the White House is proposing
Dig deeper:
U.S. diesel prices reached a record $6.53 per gallon last week, according to Energy Information Administration data. The increase was fueled by reduced supplies from the Middle East and refining disruptions, including those linked to Ukraine’s attacks on Russian energy facilities.
The price surge has prompted the White House to consider expanding access to red-dyed diesel as President Donald Trump and his administration face pressure to reduce fuel costs ahead of November’s midterm elections.
The administration has also considered a blanket ban on diesel exports by refiners and urged the European Union to release emergency diesel reserves to help lower prices.
To read rest of story, click on link: https://www.fox2detroit.com/news/trump-eyes-red-dyed-diesel-fuel-prices-soar
5 comments:
I'm definitely voting for Abbott and Paxton, don't you love these crony capitalist policies? Do you think our poverty rate is going to increase and have shortages on everything, like food? Nah! This is the "Golden Age."
Google, Kid quotes Rocky to Sylvester Stallone.
The world is not approaching its conclusion. The cost of petroleum has commenced its decline. I shall cast my ballot for Abbott and Paxton, as I am not prepared to embrace communism. Establishments such as HEB and Walmart possess the capacity to provide assistance by reducing their pricing structures. One should remain vigilant in identifying retailers that demonstrate commitment to supporting the general population.
7:19. Wanting capitalist businesses to accommodate tyrants by manipulating their profits and prices is communism. You don’t know the meaning of the word you spew on your comments. You demonstrate your ignorance and cult mentality by your complete devotion to Trump and his ilk. Get counseling.
The Local Cameron County Republicans support and believe you. AAAAAND that's about it. LMAO!
Land of the slaves, home of the slave owners.
I am voting for Paxton because Cindy is not qualified. She is qualified for the mordida like all politicians here.
As far as food and oil prices are concerned that is Trumputo's fault You mentioning communism is asinine. Every US citizen knows that communism is evil..
Post a Comment