Gas Prices Drop for Fourth Consecutive Week, Potentially Falling Below $3
Gas prices continue to decline into March, with the national average dropping for the fourth consecutive week to $3.05 per gallon, down 39 cents from last year, according to the EIA. Analysts suggest prices may dip below $3 per gallon, though concerns about economic slowdown loom, as lower gasoline demand often signals broader economic challenges. While most regions saw price declines, the East Coast and Rocky Mountains remained stable, with the Gulf Coast experiencing the largest drop. The cheapest gas can be found in Mississippi at $2.63 per gallon, followed by Oklahoma at $2.66. Currently, 31 states have an average price below $2.99, marking an increase from last week.
Canada's Carbon Pricing Overhaul: Elimination of Fuel Charge and Policy Shifts
The Government of Canada's federal carbon pricing system, established under the GGPPA, consists of a fuel charge and an Output-Based Pricing System (OBPS) for large industrial emitters. The fuel charge, applied in certain provinces and territories, was set to rise annually but will be effectively eliminated on April 1, 2025, through amendments in SOR/2025-107, which set fuel charge rates to zero. As a result, fuel charge filing requirements will end, exemption certificates will no longer apply, and the Canada carbon rebate for individuals and small businesses will be terminated. The OBPS will continue in its current jurisdictions, ensuring industrial carbon pricing remains in place. Amendments in SOR/2025-108 adjust reporting obligations for covered facilities under the OBPS. Additionally, British Columbia has announced plans to repeal its provincial carbon tax while maintaining a pricing system for large emitters.
EPA to Reconsider Key Vehicle Emission Standards Amid Industry Debate
EPA Administrator Lee Zeldin announced a reconsideration of emissions regulations for light-, medium-, and heavy-duty vehicles, citing concerns about regulatory costs and consumer choice. The agency is also reviewing the Biden-era Clean Trucks Plan and NOx regulations, though changes would require a formal rulemaking process. Industry responses are divided: the Owner-Operator Independent Drivers Association welcomes the review, warning that existing rules could push small trucking businesses out of operation, while clean transportation advocates argue that strong emissions standards are necessary to maintain U.S. competitiveness in the EV industry. The broader regulatory landscape remains uncertain, with ongoing legal and political battles over state and federal emissions policies, tax credits, and industry commitments.