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Dozens of U.S. cities are willing to buy $10 billion of electric cars and trucks to show skeptical automakers there’s demand for low-emission vehicles, just as President Trump seeks to review pollution standards the industry opposes.

Oil prices are down nearly 10% over the past month, leading some to wonder if we're set for a resumption of the plunge seen between 2014 and early 2016. Executives at oil companies, however, are optimistic.

Oil steadied below $49 a barrel as U.S. drillers continued to boost activity, countering OPEC’s efforts to drain a global glut.

The U.S. average retail price of diesel slipped 1.5 cents to $2.564 a gallon and crude oil prices dropped below $49 a barrel as efforts to reduce global production bumped against increased domestic shale production, experts said.

West Texas Intermediate crude traded below $50 a barrel after surging U.S. supplies wiped out gains in the three months since OPEC’s decision to cut output.

Oil slumped more than 5% to the lowest close this year after government data showed production cuts from OPEC and other producers have not been enough to reduce U.S. supplies.

The U.S. average retail price of diesel rose 0.2 cent to $2.579 a gallon as crude oil prices remained near $53 a barrel and U.S. production advanced amid other cuts in global production.

Demand for gasoline in the United States, which accounts for one-tenth of global oil consumption, is expected to peak next year as engines become more efficient, WoodMackenzie analysts said.

NASHVILLE, Tenn. — Engine makers, two of whom also build heavy-duty trucks, emphasized the powerful role of telematics in delivering customer support as they announced service-related features.