Fuel

The Supreme Court Monday ordered the federal government to take a new look at regulating carbon dioxide emissions from vehicles, in a rebuke to the Bush administration’s policy on global warming, the Associated Press reported.

Air and ocean freight forwarder UTi Worldwide's fourth-quarter net income rose to $23.6 million or 24 cents a share, from $9.7 million or 10 cents a year earlier.

The U.S. EPA said last week that diesel engine manufacturers who want to use selective catalytic reduction to meet EPA’s 2010 emission rules must supply the urea SCR requires and prove it will be available to truck drivers using those engines.

A loosening of the tight capacity for freight hauling now makes the fuel-surcharge programs — upon which motor carriers depend to insulate them from fuel price spikes — vulnerable to demands for change by shippers.

The U.S. average retail price of diesel fuel dipped by 0.5 cent to $2.676 a gallon last week, its second straight tiny decline, the Department of Energy said.

Crude oil futures rose to more than $64 a barrel in early trading Wednesday on the New York Mercantile Exchange, the seventh straight trading day of increases, Bloomberg reported.

The average national price of retail diesel fuel fell for a second straight week, dipping 0.5 cent to $2.676 a gallon, the Department of Energy reported Monday.

Ethanol and biodiesel production is expected to surge in the next few years as government officials in Europe and the United States set higher targets for consumption and maintain subsidies for producers, a panel of experts predicted at a forum on biofuel policies and trade organized by the German Marshall Fund of the United States.

The trucking industry is willing to pay higher fuel taxes as long as the money is spent to improve the highway infrastructure, American Trucking Associations President Bill Graves said.