American Trucking Associations launched a major initiative to meet the industry’s growing fuel-price crisis, supporting for the first time national truck fuel-economy standards.

Logistics firm Expeditors International of Washington said its first-quarter profit rose 12% to $66.5 million, or 30 cents a share, from $59.3 million, or 27 cents, a year ago.

A&R Logistics said Wednesday it acquired Pacific Chemical Distribution Corp. and its affiliate Pacific Bulk Transportation Co., for an undisclosed sum.

An American Trucking Associations official asked a congressional panel to set a national speed limit of 65 miles per hour, as part of a series of steps ATA said would support the trucking industry’s efforts to reduce fuel consumption and address the escalating cost of diesel.

Canadian transportation firm Mullen Group Income Fund’s first-quarter profit fell but its trucking and logistics unit’s performance improved, the company said late Monday.

U.S. retail diesel prices set a record for the third consecutive week as the national average rose 3.4 cents a gallon to $4.177, according to data from the Department of Energy.

Union Pacific Corp. said Thursday its board authorized a two-for-one stock split, effective May 28 to shareholders of record as of May 12.