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Orders placed with U.S. factories for durable goods rose more than expected in May, suggesting business investment so far remains firm even in the face of rising interest rates and mounting concerns about the economy.

CAMARILLO, Calif. — The average U.S. price of regular-grade gasoline fell by 4 cents per gallon in the past two weeks to $5.05 for regular grade, it was reported June 26.

The Biden administration is considering triggering tougher anti-smog requirements that could curb drilling across parts of the Permian Basin, the world’s biggest oil field that straddles Texas and New Mexico.

TOKYO — Toyota is recalling 2,700 bZ4X crossover vehicles globally for wheel bolts that could become loose, in a major setback for the Japanese automaker’s ambitions to roll out electric cars.

Three of the five members of the Federal Maritime Commission are urging the Surface Transportation Board to reject Canadian Pacific Railway’s plan to merge with the smaller, but strategically significant Kansas City Southern Railroad.

A House panel on June 23 approved legislation that would fund operations at the U.S. Department of Transportation for fiscal 2023.

WASHINGTON — A meeting with Energy Secretary Jennifer Granholm to discuss lowering gas prices and boosting domestic oil supplies was constructive, but did not produce a major breakthrough, groups representing the oil industry and refiners said June 23.

The U.S. Energy Information Administration has had to delay its reporting of fuel prices for the week of June 20.

The strong pace of imported goods to the nation’s ports continued in May.