Fuel costs are expected to remain a global concern as long as the U.S. conflict with Iran continues.
In its April short-term energy outlook, the Energy Information Administration said it expects U.S. diesel prices to peak at more than $5.80 per gallon this month and average $4.80 in 2026.
Tighter global supply and falling U.S. inventories factored heavily into this forecast, EIA said.
Diesel in Canada was up nearly 60% compared to the previous year in mid-April, with some locations reporting record highs.
On Tuesday, April 14, Prime Minister of Canada Mark Carney announced a temporary suspension of the federal fuel excise tax on gasoline and diesel nationwide.
The fuel tax suspension, which reduces diesel by 4 cents per liter, will be in effect from April 20 through September 7.
Canadian officials said the suspension will reduce operating costs for truckers and businesses in the food, agriculture, housing, construction and delivery sectors, providing them with greater financial strength.
“We’re building a stronger, more resilient, and more independent Canadian economy,” Carney said. “As we build, we’re cutting your taxes, reducing the costs of your homes, and providing you relief at the pump. We cannot control what other nations do. We’re focused on what we can control – building Canada strong for all.”
The Canadian Trucking Alliance said stability in fuel prices is a key tool in the fight against inflation and keeping costs down.
Additional federal announcements to improve the trucking sector are expected in 2026, according to Canadian Trucking Alliance president and CEO Stephen Laskowski.
Several states have recently implemented fuel tax holidays to lower costs for some drivers.
Indiana Gov. Mike Braun said affordability is his top priority, while officials in Georgia said its fuel tax break will save truck drivers nearly $400 million in the next 60 days. LL
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