Fuel

The U.S. Environmental Protection Agency honored 75 carriers, logistics providers and freight shippers with its annual SmartWay Excellence Awards.

Volkswagen AG CEO Herbert Diess vowed to pursue a sweeping transition to electric cars, declaring it a matter of survival even as the coronavirus risks upending business in the near term.

Volvo Trucks North America announced it will begin selling its Volvo VNR Electric model Dec. 3 as production at its New River Valley manufacturing plant in Dublin, Va., is slated for early 2021.

Ryder System Inc. is working to advance its technology and forge new partnerships with the launch of its corporate venture capital fund, the company detailed Nov. 2.

Eaton Corp. reported lower net income and revenue in the third quarter, but called it a stronger than expected performance.

Algeria, which this year holds the OPEC presidency, said that both Saudi Arabia and Russia were pressing fellow members to prolong the current oil-supply cuts into next year, rather than tapering them as planned. Algeria supported the proposal, the first country to publicly do so.

Volvo Trucks North America announced it, and other industry associations and companies, helped facilitate the modification of California utility rules to give private entities the ability to sell electricity as a motor fuel at publicly accessible charging stations for medium- and heavy-duty electric vehicles.

U.S. stocks rose as a gust of optimism swept through global equity markets as millions of Americans headed to vote. The dollar weakened and crude oil increased by the most in a month.

The national average price of diesel dropped 1.3 cents, according to the Energy Information Administration’s weekly data released Nov. 2. The decline, which comes amid tumbling oil prices, is the eighth in the past nine weeks.

OPEC+ inched closer to delaying its January output increase, with Russia actively discussing keeping its current curbs for an extra three months as oil markets weaken.