Trump to issue order expanding access to tax-exempt diesel fuel, sources say
President Donald Trump has signed an executive order temporarily allowing tax-exempt red-dyed diesel to be used on highways, expanding access to cheaper fuel as truckers and farmers grapple with high diesel prices. The move aims to bring down diesel costs, which reached a record $6.50 a gallon last month. This decision comes ahead of the November 3 elections, posing a risk to Trump's administration if fuel prices remain high.
Listen to Live Briefing
Real-time synthesized voice briefing · Live Feeds Desk
- ✓ President Donald Trump signed an executive order Monday temporarily allowing tax-exempt red-dyed diesel to be used on highways.
- ✓ High diesel prices reached a record of about $6.50 a gallon last month.
- ✓ The executive order aims to bring down the costs of all goods, including groceries.
What changed
President Trump signed the executive order allowing tax-exempt red-dyed diesel to be used on highways.
Live updates
-
Trump issues executive order expanding access to tax-exempt diesel fuel
President Donald Trump has signed an executive order temporarily allowing tax-exempt red-dyed diesel to be used on highways, expanding access to cheaper fuel as truckers and farmers grapple with high diesel prices. The move aims to bring down diesel costs, which reached a record $6.50 a gallon last month. This decision comes ahead of the November 3 elections, posing a risk to Trump's administration if fuel prices remain high.
Why it matters
High diesel prices have been a concern for the US economy and Trump's administration, particularly with the midterm elections approaching. The president has been seeking ways to alleviate the burden of rising fuel costs on truckers, farmers, and other industries. Diesel fuel is a critical component of the US supply chain, and its prices have a significant impact on the overall economy.
What is confirmed
- President Donald Trump signed an executive order Monday temporarily allowing tax-exempt red-dyed diesel to be used on highways.
- High diesel prices reached a record of about $6.50 a gallon last month.
- The executive order aims to bring down the costs of all goods, including groceries.
Still unconfirmed
- The decision comes ahead of the November 3 elections, posing a risk to Trump's administration if fuel prices remain high.
What to watch next
- The impact of the executive order on diesel prices
- The reaction of the trucking and farming industries to the expanded access to tax-exempt diesel fuel
- The effect of the decision on the US economy and midterm elections
confidence 85%Sources used for this update (11)
- economictimes.indiatimes.com — Chennai News
- Reuters — Trump to issue order expanding access to tax-exempt diesel fuel, sources say
- Politico — Trump plans executive order seeking to bring down high diesel costs
- Axios — Trump reportedly eyes easing access to tax-exempt diesel
- Bloomberg.com — Trump Plans to Ease Limits on Tax-Exempt Diesel Variety
- Financial Times — Donald Trump poised to ease red diesel limits in attempt to quell fuel inflation
- The Independent — Trump to issue executive order to bring down diesel prices amid grim midterm polls
- www.yahoo.com — Trump Signs Emergency Order to Make Tax-Free Red Diesel Available for Highway Use — Says It Will ‘Drive Down the Costs of All Goods, Including Groceries’
- arynews.tv — Trump to issue order expanding access to tax-exempt diesel fuel, sources say - ARY News
- finance.yahoo.com — Trump to issue order expanding access to tax-exempt diesel fuel, sources say
- www.yahoo.com — Aiming at fuel costs, Trump opens tax-exempt ‘red dye’ diesel to all drivers
Community Sentiment: How do you assess this situation?
Voice your perspective · Real-time aggregated sentiment from the Live Feeds community