Following Congress’ rejection of calls by presidential contenders to rescind the federal tax on gasoline and diesel fuel this summer, some lawmakers are quietly considering boosting the tax by a dime to ensure the federal highway fund is adequately financed, the Associated Press reported.
July 21, 2008Business, Government, Safety, Fuel
EPA Requests More Input on Greenhouse Gases
The Environmental Protection Agency issued a nearly 600-page request for public comment on whether it should use existing law to regulate greenhouse gas emissions, a decision one trucking official said was a way to further delay any new regulations until after President Bush leaves office.
July 21, 2008Government, Business
Leading Economic Indicators Dip 0.1%
An index of leading economic indicators dipped 0.1% in June, the New York-based Conference Board said Monday.
July 21, 2008Business, Fuel, Government
Congress May Boost Fuel Tax as Highway Fund Deficit Looms
Business, Government
U.S. Firms to Raise Prices Amid High Costs, Survey Says
More U.S. companies plan to raise boost prices and limit hiring as a continuing surge in raw-material costs crimps profits, according to a new business survey, Bloomberg reported Monday.
July 21, 2008Business, Fuel, Government
For-Hire Carriers Endured a Painful Year, But Certain Niches Thrived, TT 100 Shows
It has been a year of retrenchment for most, but not all, of the largest for-hire carriers in the United States and Canada, as fleets scramble to cope with record fuel prices and weak freight demand.
July 21, 2008Government, Business, Safety
June Truck Sales Rise 9.5%
Heavy-duty U.S. retail truck sales grew by 9.5% in June, compared with year-ago levels, and ended a streak of 17 consecutive months of contraction, according to the latest survey by WardsAuto.com.
July 21, 2008Business, Fuel, Government
Smaller Fleets Seeking Buyers as Strategy to Avoid Bankruptcy
Behind this year’s surge in trucking company failures, brought on largely by the double-whammy of slow freight and skyrocketing fuel prices, is another ominous trend: a sharp increase in the number of motor carriers asking larger competitors to buy them out.
July 21, 2008Government, Business, Safety, Fuel
Diesel Rises 3.7¢ to Record $4.764; Crude Drops
The U.S. retail diesel average rose 3.7 cents last week to another record, $4.764 a gallon, the Department of Energy reported, while the price of crude oil posted its largest single-day drop in 17 years on July 15.
July 21, 2008Business, Government
Philadelphia Manufacturing Index Declines
Manufacturing levels in the Philadelphia region showed contraction in July for the eighth straight month, the Federal Reserve Bank of Philadelphia said Thursday.
July 17, 2008Government, Business
Housing Starts Jump 9.1%; Single-Family °®¶¹´«Ã½ Starts Lag
New housing starts surged in June led by more multifamily construction, but single-family home starts fell, the Commerce Department said Thursday.
July 17, 2008