Fuel

WASHINGTON — Hurricane Ida is sure to take a toll on the energy, chemical and shipping industries that have major hubs along the Gulf Coast. But the impact on the overall U.S. economy likely will be modest so long as damage estimates don’t rise sharply and refinery shutdowns are not prolonged, economists say.

The Federal Trade Commission is examining ways to crack down on mergers in the oil and gas industry and investigate whether gas station franchises are driving up gas prices as part of a Biden administration effort to combat higher costs at the pump.

Some U.S. motorists who had been expecting an end-of-summer relief for gasoline prices should start bracing for higher costs at the pump in the coming days due to Hurricane Ida.

BYD Co., the Chinese electric-vehicle and battery maker backed by Warren Buffett, said first-half earnings fell as shortages of chips and lithium increased costs.

Rivian Automotive Inc., the maker of electric pickups backed by Amazon .com Inc., has filed for an initial public offering and is seeking a roughly $80 billion valuation, according to people familiar with the matter.

OPEC and its allies are expected to press on with their planned revival of oil production when they meet next week, as prices bounce back from their August stumble.

Nuro Inc., which has unmanned delivery pods scurrying around Southwestern streets, said that it will build a $40 million facility to assemble and test a new generation of autonomous vehicles in Nevada.

New Jersey’s gasoline tax will drop 8.3 cents to 42.4 cents a gallon on Oct. 1 after drivers were forced to pay more at the pump a year ago, state officials announced Aug. 24.

Cruise, the San Francisco autonomous car company backed by General Motors, is launching a new initiative to support renewable energy efforts in California’s Central Valley that takes advantage of solar power.

Fuel cell technology provider Hyzon Motors Inc. and renewable fuels company Raven SR Inc. announced their first waste-to-green hydrogen production hub.