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The rise in fuel prices is slowing a decline in spot rates while also potentially suppressing base revenue for some carriers, experts said.

The Biden administration announced it will invoke Cold War powers to boost domestic production of materials for batteries needed to power electric vehicles and the transition to renewable energy, a move intended to improve U.S. competitiveness in a market dominated by China.

LONDON — OPEC and allied oil producers including Russia decided March 31 to stick to a modest increase in the amount of crude they pump to the world, a step that supports higher prices even as the Biden administration plans to try to lower them by releasing oil from strategic reserves.

WASHINGTON — An inflation gauge that is closely monitored by the Federal Reserve jumped 6.4% in February compared with a year ago, with sharply higher prices for food, gasoline and other necessities squeezing Americans’ finances.

WASHINGTON — President Joe Biden is preparing to order the release of up to 1 million barrels of oil per day from the nation’s strategic petroleum reserve, according to two people familiar with the decision, in a bid to control energy prices that have spiked as the U.S. and allies have imposed steep sanctions on Russia over its invasion of Ukraine.

Nikola Corp. and ENGS Commercial Finance Co., a member of Mitsubishi HC Capital Group, announced an agreement to facilitate sales of Class 8 Nikola Tre battery-electric vehicles and Nikola Tre hydrogen fuel-cell electric vehicles.

Executives from major oil companies will participate in a House Energy and Commerce Committee hearing next week on skyrocketing gasoline prices, but another House panel didn't have as much success getting witnesses to agree to appear.

A Connecticut effort to curb carbon-spewing emissions from large trucks by adopting California’s clean air regulations moved forward March 28, despite heavy criticism from opponents who said it could lead to higher costs on Connecticut businesses.

Prime Minister Justin Trudeau’s government wants a 42% reduction in emissions from the oil and gas sector as part of Canada’s plan to meet its 2030 emissions reduction goal.

The national average price for diesel resumed its upward trajectory after a one-week respite, gaining 5.1 cents to settle at $5.185 a gallon, according to Energy Information Administration data released March 28.