Trump signs order expanding tax-exempt diesel fuel access for US users
Donald Trump signed an executive order that expands access to tax-exempt diesel fuel. The order instructs the treasury secretary, working with the Pentagon chief, to postpone payment of the federal excise tax on dyed diesel fuel used on roads for the rest of the year, without incurring interest or penalties.
Furthermore, the directive tasks the treasury secretary with exploring methods to eliminate the requirement to pay these deferred taxes. The US agriculture secretary must ensure that farmers retain access to dyed diesel in areas experiencing high demand.
Coordination on dyed diesel access requires the US agriculture secretary to liaise with the transportation secretary, industry leadership, and labor organizations. Separately, G7 nations announced a commitment to release 100 million barrels of diesel.
Diesel prices previously reached a high of 6.50 US dollar per gallon last month. Regarding his political standing, Trump's approval rating stood at 32% in recent days.
Trump stated, "We are not going to need it long, I hope."
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