°®¶¹´«Ã½

Volvo Cars AB is withdrawing from Europe’s car lobby, the second major automaker to do so in the past month, as the industry fractures over the transition to electric vehicles.

The U.S. Energy Information Administration on July 7 released fuel prices covering a three-week reporting delay, and the national average price for diesel fell 10.8 cents to $5.675 in its second straight decline.

Shell Plc said soaring margins from fuel production may have added more than $1 billion to the earnings of its refining business last quarter, when gasoline prices broke records in several countries.

Economic conditions in the country and in trucking remain relatively strong, but American Trucking Associations Chief Economist Bob Costello said he has concerns about early 2023 and puts the chance of a recession in the first quarter of the year at 50-50.

West Texas Intermediate crude futures dropped below $100 a barrel for the first time since May 11 as concerns grow that a global economic slowdown will ultimately hobble demand.

Volvo Group is looking to expand its autonomous and electric truck programs to build market share in its key U.S. market and drive revenue and profits higher, top executives said recently.

It’s been a tailwind for oil prices for most of this year, but the previously booming U.S. gasoline market is showing a few signs of cooling off.

A German plant reportedly will take a break this month, in addition to two model lines in Shanghai, Bloomberg reported.

The growing shortage of technicians serving the trucking industry is a critical problem for fleet maintenance managers. But you can keep your fleet on the road and retain great talent with these tips from George Arrants and the ASE Foundation. Download the tip sheet here.

The U.S. Energy Information Administration is delaying its weekly release of national diesel prices for a third week in a row due to network issues, it announced June 30.