Energy Secretary Chris Wright appeared on Stuart Varney’s show to discuss President Trump’s recent directive aimed at reducing diesel costs, touching on crude oil markets, rising gasoline prices, and the ongoing Colorado climate lawsuit.
Wright indicated that truckers might see relief from elevated diesel prices as early as Saturday, following Trump’s executive order that temporarily broadens highway access to red-dyed diesel and eases certain federal diesel‑tax penalties.
Speaking on FOX Business’ ‘Varney & Co.’, Wright outlined the administration’s efforts to curb diesel prices amid tightening global supplies that continue to pressure drivers and businesses.
President Donald Trump signs an executive order temporarily expanding access to red-dyed diesel for highway use. (Win McNamee/Getty Images)
Wright said truckers could start seeing relief by Saturday, which is five days after the order was signed.
“The order was signed yesterday, and it gives Treasury and the Department of War five days to identify the necessary authorizations.”
Trump’s order instructs the Treasury Department to assess within five days whether it can defer certain federal diesel excise‑tax payments. It also tells the IRS to offer penalty relief for dyed diesel used on highways through December 31, while federal agencies collaborate with states and industry to expand access.
Trump’s move opens red‑dyed diesel to truckers in an effort to cut fuel costs
Wright noted that international disruptions are driving the pressure, pointing to Russia, China, and reduced refined‑product flows from the Middle East.
Varney emphasized that Trump’s new order lifts restrictions on red‑dyed diesel for highway use, aiming to lower fuel expenses for truckers nationwide.
“We are facing a diesel shortage caused by the Russia‑Ukraine conflict, China’s halt on diesel exports, and continued constrained refined‑product supplies from the Middle East, although those flows are beginning to improve,” Wright said.
Kevin Hassett suggests that releasing diesel reserves could produce a substantial positive impact as the G7 reaches an agreement
Despite the tight market, Wright said he believes the worst of the price surge may have already passed.
Former Energy Secretary Dan Brouillette discussed declining oil prices and President Trump’s energy agenda on Kudlow.
“Diesel prices appear to have peaked a few weeks ago, dropping roughly 20‑25 cents. I expect a steady decline in diesel costs over the coming weeks and months,” Wright added.
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