Fuel

The national average price of diesel surged 4.9 cents to $4.104 a gallon, according to the Energy Information Administration’s latest survey, released Feb. 28

Chevron Corp. agreed to buy green diesel producer Renewable Energy Group Inc. for $3.1 billion in the biggest low-carbon deal of CEO Mike Wirth’s four-year tenure.

Hyliion Holdings Corp. announced private fleet GreenPath Logistics ordered 50 Hyliion Hypertruck ERX powertrains.

The U.S. and its allies are discussing a coordinated release of about 60 million barrels of oil from their emergency stockpiles after Russia’s invasion of Ukraine pushed crude prices above $100.

BP is exiting its share in Rosneft, a state-controlled Russian oil and gas company, in reaction to Russia’s invasion of Ukraine.

Exxon Mobil Corp. reached a final investment decision on expanding a carbon-capture facility at LaBarge in Wyoming with the $400 million endeavor expected to start up by 2025.

Northvolt AB plans to convert a closed paper mill in Sweden into a new battery materials factory, adding a third production facility in the Nordic country to supply demand fueled by the growing electrification of transport.

Oil extended its retreat from a seven-year high, slipping back below $100 a barrel in London, as Russia’s invasion of Ukraine forced traders to grapple with a fluid market environment.

CHEYENNE, Wyo. — Four Rocky Mountain states will cooperate on developing ways to make the most abundant element in the universe, hydrogen, more available and useful as clean-burning fuel for cars, trucks and trains, the states’ governors announced Feb. 24.

Hyliion Holdings Corp. reported a fourth-quarter net loss and modest first-time revenue as its work on providing electrified powertrains for Class 8 trucks continued.