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US allows use of tax-free red-dyed diesel to ease record-high fuel costs amid supply issues

Market News
06 Oct 2026
CNBC
View Source
Neutral
US allows use of tax-free red-dyed diesel to ease record-high fuel costs amid supply issues

President Donald Trump signed an executive order permitting the broader use of red-dyed diesel, a cheaper, tax-exempt fuel usually reserved for farms and construction, to help lower soaring fuel prices. This move comes as the US diesel price hit a record $6 per gallon due to global supply constraints linked to the Ukraine war and refining shortages. The order also defers federal excise taxes on highway diesel through the end of 2026 and explores eliminating these taxes altogether. This measure aims to reduce costs for truckers and farmers, potentially saving over $100 per fill-up, while the government and G7 nations work to stabilize fuel supplies.

Regarding President Donald Trump's executive order on cheaper, dyed diesel, here is Pluang's market snapshot as of Oct 06, 2026 11:51 WIB: Out of 150 priced US stocks tradable on Pluang, 102 rose and 42 fell today. Notable movers include Cenovus Energy Inc (CVE) at USD 31.45 with a 1-day change of -2.93%, PayPal Holdings, Inc. (PYPL) at USD 54.33 up 2.90%, and Block Inc (XYZ) at USD 76.39 up 2.77%. The most notable figure is PayPal's 72% sell order activity on Pluang.

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