EEToday News Agency reported on the 6th that U.S. President Trump signed an executive order on Monday (5th), easing restrictions on the use of federally untaxed "red-dyed diesel" to increase diesel supply and reduce fuel costs.
"Red diesel" refers to fuel that is chemically identical to regular diesel but dyed red and exempt from federal fuel taxes, primarily used in agriculture and off-road vehicles. The government has expanded its sales and usage scope, allowing more market participants to use tax-exempt diesel, thereby increasing market supply.
Diesel prices have recently surged sharply, becoming a key issue for the U.S. government in alleviating cost-of-living pressures ahead of the November midterm elections. Energy Secretary Wright said recently that diesel prices have begun to decline and are expected to fall further in the coming weeks. (yc)
"Red diesel" refers to fuel that is chemically identical to regular diesel but dyed red and exempt from federal fuel taxes, primarily used in agriculture and off-road vehicles. The government has expanded its sales and usage scope, allowing more market participants to use tax-exempt diesel, thereby increasing market supply.
Diesel prices have recently surged sharply, becoming a key issue for the U.S. government in alleviating cost-of-living pressures ahead of the November midterm elections. Energy Secretary Wright said recently that diesel prices have begun to decline and are expected to fall further in the coming weeks. (yc)
