TRUMP DIESEL TAX RELIEF CALLED A “BAND AID”

U.S. diesel futures fell after President Trump temporarily allowed tax-deferred on-road use of red diesel through year-end, with the deferred federal excise tax potentially eliminated later.

Ritterbusch says the measure may provide some relief but doesn’t address the underlying supply disruption through the Strait of Hormuz.

Nymex diesel fell 2.6% to $4.4295 per gallon.