Fuel

South Carolina on July 1 began a six-year trek that will raise taxes on gasoline and diesel fuel by 2 cents a gallon each July into 2022.

Proponents of an initiative to repeal gas tax increases in California plan to sue over the state-drafted title and summary for the ballot measure, which they say is misleading and negative.

U.S. crude producers are still set to pump record amounts of the commodity next year, but less so than previously projected, according to the latest government estimates.

Royal Dutch Shell, the oil company that spent more than $50 billion to buy natural-gas producer BG Group, is looking to expand demand for the fuel in transport to ensure its output is consumed.

The U.S. average retail price of diesel rose 0.9 cent to $2.481, while oil prices failed to reclaim ground after a sharp drop a week earlier.

Oil prices declined for the week of July 3, as expanded U.S. drilling activity and added production offset a larger-than-expected drop in stockpiles.

The U.S. average retail price of diesel rose 0.7 cent to $2.472 as U.S. oil drilling declined and crude prices rebounded to clear $47 a barrel before retreating to about $45, experts said.

TT Managing Editor Lorrie Grant chats with government reporters Eugene Mulero and Eric Miller to recap the year so far in congressional and regulatory news that impact trucking, and looks ahead at the final six months. (Joseph Terry/Transport Topics)

Oil extended the longest run of gains in six months after U.S. shale explorers paused a record drilling expansion in a sign the boom may be slowing down.

The number of Americans traveling by car for the Fourth of July holiday will hit a record high this year, fueled by a growing economy and relatively low gasoline prices, the nation’s largest motorists’ advocacy group said June 29.