ºÚÁϳԹÏÍø

WASHINGTON — The Biden administration is delaying plans to restock the nation’s emergency oil reserve amid a price hike that has pushed oil above $80 a barrel.

Proving last week’s surge wasn’t a fluke, the national average diesel price skyrocketed 22.2 cents to reach $4.127 a gallon, according to the Energy Information Administration.

Nikola began production of the Tre hydrogen fuel cell electric truck July 31 at its Coolidge, Ariz., factory, the company said.

A gravity-defying rally in electric vehicle startup Nikola Corp. is showing no signs of stopping, as the company’s latest efforts to conserve cash and secure funds reignites a stock fervor.

Tesla reportedly is seeking nearly $100 million from the U.S. to build nine electric semi-truck charging stations along a route from the southern border of Texas to northern California.

LONDON — Energy giant BP said Aug. 1 that it earned nearly $2.6 billion in the second quarter, almost half what it posted in the first quarter as oil and natural gas prices have fallen.

Record-breaking summer heat is forcing fuelmakers to cut back operations, just as dwindling supplies are causing gasoline prices to surge around the world.

Industry leaders have been working to give the basic piston engine an extended life using greener fuels as they allow reduced cost of fuel while at the same time reducing greenhouse gases.

DETROIT — The U.S. government wants to raise the fuel economy of new vehicles 18% by the 2032 model year so that all new vehicles would average about 43.5 miles per gallon in real-world driving.

Exxon Mobil Corp. fell short of analysts’ expectations with a third straight drop in profit amid weaker natural gas prices and shrinking returns from fuel sales.