Fuel

Rivian Automotive Inc., the electric-truck startup backed by Amazon .com Inc., is running the automotive equivalent of a three-ring circus: attempting to launch a trio of new vehicles in a factory that made its last car six years ago.

The national average price for a gallon of diesel increased 7.1 cents to $3.143 a gallon, according to data released by the Energy Information Administration on March 8.

Workhorse Group Inc. rose after a U.S. lawmaker raised questions about a $54.2 million late-day block trade in competitor Oshkosh Corp. on the eve of a blockbuster U.S. Postal Service contract award.

The move marks Tesla Inc.’s first major foray into the epicenter of the U.S. energy economy.

Five gasoline tankers that were en route to the U.S. East Coast diverted to the Port of Houston to help ease a supply crunch after last month’s freeze crippled the region’s refineries.

Oil rallied to the highest in nearly two years in New York after OPEC+ shocked markets with a decision to keep supply limited as the global economy starts to recover from the pandemic-driven slump.

Commercial Vehicle Group announced a partnership with commercial electric vehicle manufacturer Xos Inc. to develop sustainability initiatives intended to champion innovation and solutions for growing macro-trends in the marketplace.

Volkswagen AG’s main brand doubled its forecast for the share of purely battery-powered cars in Europe to 70% by the end of the decade, signaling it expects to be delivering well more than 1 million EVs a year by then.

ExxonMobil Corp. sees multiple money-making opportunities in a low-emissions world and is targeting partnerships with venture funds to help finance growth in its carbon capture business, CEO Darren Woods said.

Workhorse Group Inc. said March 4 it sees a “prolonged process” as it attempts to challenge the loss of a massive U.S. Postal Service contract to build the agency’s next-generation fleet of delivery trucks.