Fuel

The U.S. Department of Agriculture is pushing for eased tax credit requirements regarding crops used as ingredients in the production of renewable fuels, according to Secretary Tom Vilsack.

The Biofuel Infrastructure Incentive Program, administered by MASBDA, will award grants to biofuel retailers, distributors, terminal companies or fleet operations.

A new fuel analysis names California, Illinois and Pennsylvania as the states with this year’s highest diesel and gas taxes, while Alaska, Mississippi and Hawaii have the lowest.

The Vancouver, British Columbia-based fuel system component manufacturer posted net income of $5.8 million, or 33 cents per diluted share, for the three months ending June 30.

Darling Ingredients soared the most in eight years after California signaled it may limit the use of seed oils in green diesel, which would be a boon to companies that use rival feedstocks.

Global oil markets are poised to swing from a deficit to a surplus next quarter should OPEC+ proceed with plans to boost supplies, data from the International Energy Agency showed.

The national average diesel price dropped 5.1 cents to $3.704 per gallon, according to Energy Information Administration data released Aug. 12.  

A Marathon Oil Corp. shareholder sued to block its proposed acquisition by ConocoPhillips, claiming the $17 billion deal “significantly undervalues” the target company.

Some of the top U.S. oil refiners are throttling back operations at their facilities this quarter, adding to concerns that a global glut of crude is forming.

7-Eleven announced a major expansion to its diesel refueling network Aug. 8, aiming to increase the number of locations available to professional drivers.