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U.S. gasoline pump prices are poised to drop below $2 a gallon for the first time in more than six years, which is sure to bring comfort and joy to drivers.

Volvo Trucks North America said it has approved the use of renewable diesel fuel, which can be made from biomass, in its engines.

Brent crude fell below $40 a barrel for the first time in almost seven years after OPEC effectively abandoned limits on crude output, prompting speculation that a record global glut will continue.

The Department of Energy said it expects the price of diesel to average $2.67 a gallon in 2016 and gasoline to average $2.36.

Oil extended losses below $40 a barrel amid speculation a record global glut will be prolonged as OPEC effectively abandoned its longtime strategy of limiting production to control prices.

The U.S. average retail diesel price slid for the fourth week in a row, down 4.2 cents a gallon to $2.379, the Department of Energy reported Dec. 7.

The U.S. average retail price of diesel continued its descent for a third straight week, falling 2.4 cents a gallon to $2.421, the Department of Energy reported.

Trucks in the European Union are no more fuel-efficient than they were more than a decade ago, according to a report released Dec. 3, as calls increase for emissions from heavy-duty vehicles to be regulated in the same way as cars.

FCA US, the North American automaking unit of Fiat Chrysler Automobiles N.V., will invest $40 million to convert 179 trucks in its private fleet to run on compressed natural gas and build in Detroit the largest private CNG fueling station in North America.