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Energy Secretary Chris Wright says diesel relief starts on Saturday
Fox Business • • nation
Key Points:
- President Donald Trump signed an executive order to temporarily expand highway access to red-dyed diesel and provide relief from certain federal diesel-tax penalties and payments, potentially easing high diesel prices for truckers by Saturday.
- The order requires the Treasury Department to decide within five days on deferring federal diesel excise-tax payments and directs the IRS to offer penalty relief for dyed diesel used on highways through December 31.
- U.S. Energy Secretary Chris Wright cited global supply disruptions, including conflicts involving Russia and Ukraine, China's export restrictions, and reduced Middle East refined product flows, as key factors driving diesel shortages and price spikes.
- Despite ongoing supply challenges, Wright believes diesel prices have likely peaked and noted a recent 20 to 25 cent decline, anticipating a gradual price decrease in the coming weeks and months.
