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Ford Motor Co. plans to lay off up to 12% of its salaried employees by August as part of a restructuring in the face of slumping sales and high fuel prices, the Associated Press reported Wednesday.

In response to the Los Angeles Port Authority’s looming ban on owner-operators, it never ceases to amaze me that our governmental bodies believe they have autonomous authority over all things.

Thousands of U.S. truckers unable to make money because of rising fuel prices are selling their trucks, in what may be the biggest cut in the U.S. trucking fleet since trucking deregulation in 1980, the New York Times reported Tuesday.

As fuel prices have skyrocketed, trucking companies have been forced to look closer at other parts of their businesses to trim costs.

The average retail diesel price continued its meteoric rise last week, surging another 16.6 cents to a record $4.497 a gallon, according to the Department of Energy.

The U.S. military, which is the country’s largest single consumer, is engaged in an aggressive plan of alternative fuels development and testing, the Wall Street Journal reported Wednesday.

UPS Inc. said Wednesday it is moving its primary intra-Asia air hub to southern China, from the Philippines, to save money and reduce transit times across Asia.

Oil prices rose to a new record high Tuesday, moving past $129 a barrel for the first time in intraday trading, the Associated Press reported.

The worldwide spike in diesel prices is being driven in part by China’s stockpiling of the fuel in advance of this summer Olympics, which it is hosting, and the United States is exporting more diesel to the world market, the Wall Street Journal reported Monday.