Utah has been hit hardest at the pump and Utah Petroleum Association President Rikki Hrenko-Browning has shared some insight on efforts to bring relief. President Trump signed an Executive Order, ‘Emergency Tax Relief on Diesel Fuel,’ intended to provide temporary relief from high diesel fuel prices. It also provides a tax deferral and penalty relief for highway sales and use of dyed diesel ordered through the end of the year. “The White House estimates savings of about $60 on a 250-gallon fill up from the 24.4 cents-per-gallon federal tax, and more than $100 per fill up where states also suspend their fuel taxes," reports Energy Marketers of America. "The Agriculture Department (USDA) estimates approximately $640 million in combined federal and state savings across approximately 224.6 million harvested acres.” It’s hopeful this tactic will bring much-needed relief to the trucking industry that is the lifeblood of how the vast majority of goods are transported in this country, which, in turn, will hopefully alleviate the current and looming price increases on us all, explains Hrenko-Browning. With that said, it is greatly hoped the Administration does not consider a diesel export ban, as the President has mentioned several times. Hrenko-Browning says any mild positive impacts from that would be short term while there would be extremely negative long term impacts.
Photo: Utah Petroleum Association