Trump to widen access to tax-exempt diesel due to record-high prices
President Donald Trump is set to expand access to tax-exempt dyed diesel in an effort to lower fuel costs ahead of the midterm elections.
TL;DR
- President Trump plans to increase access to tax-exempt dyed diesel to lower fuel costs.
- The Transportation Department will coordinate with states to waive road diesel taxes.
- Several states have already suspended or are considering suspending diesel taxes.
- National average diesel price is $6.32 per gallon, influenced by international conflicts.
- High diesel prices impact crucial economic sectors, particularly agriculture.
- Trump previously considered a ban on diesel exports but withdrew from that possibility.
- The decision to not ban exports followed the G7's agreement to release oil and diesel from emergency stocks.