US President Donald Trump signed an executive order on Monday to expand access to tax-exempt diesel. Trump signed the order on stage during a rally in Nebraska, saying the directive will waive off-road requirement and allow anyone to purchase tax-free so-called red dye diesel. Diesel fuel prices have spiked in the aftermath of the Iran war, rattling voters and putting pressure on Republicans. The dyed diesel fuel is exempt from federal and state excise taxes. Temporarily removing the limits would reduce cost pressures on the businesses that rely on diesel.
High diesel prices, which shot to a record of about $6.50 a gallon last month, are a risk to Trump ahead of the November 3 elections. Prices for the fuel integral to trucking goods have risen in response to the wars in Iran and Ukraine which have led to attacks on refineries in Russia and the Middle East.
