00:00It's Benzinga bringing Wall Street to Main Street
00:02Major U.S. trucking groups are questioning whether President Trump's temporary expansion
00:06of red-dyed diesel for highway use will provide meaningful relief, as diesel prices remain
00:10above $6 per gallon.
00:12The American Trucking Association said the move does not increase fuel supplies or address
00:16the shortage driving prices higher.
00:18Trump's order directs Treasury to consider deferring the $0.24.4 federal diesel tax through
00:23December 31 and potentially eliminating the liability.
00:26The owner-operator Independent Drivers Association said wider use of red-dyed diesel would provide
00:31minimal relief, warning that sustained high prices could force drivers out of business.
00:36Analysts warned retailers may hesitate to sell dyed diesel until tax rules are clarified.
00:41GasBuddy analyst Patrick DeHaan warned the federal order does not override state restrictions,
00:46potentially exposing interstate carriers to penalties that outweigh the roughly $0.24 per
00:51gallon federal savings.
00:52For all things money, visit Benzinga.com.
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