00:00It's Benzinga, bringing Wall Street to Main Street
00:02President Trump temporarily expanded access to tax-free red-dyed diesel as record high fuel prices
00:07increased transportation costs across the U.S., according to CNBC. Trump signed an executive
00:12order Monday, allowing truckers and farmers to use the fuel, which is typically reserved for
00:17off-road vehicles and exempt from a 24.4-cent-per-gallon highway tax. The order also directs the
00:24Treasury Secretary to defer collection of the federal excise tax on highway diesel
00:27through the end of 2026 without interest or penalties. The White House said truckers
00:33could save more than $100 per fill-up. U.S. diesel prices topped $6 a gallon for the first time
00:38in
00:38September, as conflicts in Ukraine and Iran disrupted fuel supplies and raised transportation costs.
00:43For all things money, visit Benzinga.com.
