Following extensive efforts by the ACMA and other mailing interests, the Postal Regulatory Commission (PRC) today issued a favorable ruling that prevents the US Postal Service from raising rates on market dominant mail products more than once a year between March 1, 2026 through September 30, 2030. Following a PRC ruling that paved the way for the USPS to raise rates twice a year between 2021 and 2024, the PRC concluded today that “things did not go well. Declines in the Postal Service’s financial situation, volume, and service performance have remained significant, if not worsened.” Following a “comprehensive and holistic review, the Commission determined that the system is not achieving the objectives taking into account the factors,” the PRC order said.

National Average Price for Regular Unleaded Current: $3.503; Month Ago: $3.586; Year Ago: $3.556. National Average Price for Diesel Current: $3.814; Month Ago: $3.863; Year Ago: $3.877.

Saudi Arabia has informed five Asian refiners that it will supply full contractual volumes of crude oil in July, five sources with knowledge of the matter said on Tuesday. The world's top crude exporter has also reinstated contracted volumes of Arab Heavy crude to one buyer after cutting supplies in the previous month, one of the sources said. Last month, the state oil giant maintained full contractual supplies to Asia for June supplies by replacing Arab Heavy with Arab Light. The Arab Heavy was redirected to domestic power plants to meet the increased demand for electricity for summer cooling needs. Click Read More below for additional information.