This week in trucking: FedEx Freight, Ohio non-dom CDLs

Here are the headlines from this week in trucking as of June 4.

Summaries of the stories are below:

FedEx Freight is officially an independent LTL carrier

FedEx Freight completed its spinoff from FedEx, becoming an independent, publicly traded less-than-truckload (LTL) carrier, trading under the ticker FDXF. The stock’s current valuation is about $160. The Fedspinoffght spinoff is joining the S&P 500 and the Dow Jones Industrial Average.

Ohio is planning the expiration of 5,000 non-domiciled CDLs

The Ohio Bureau of Motor Vehicles is sending letters to all of its 5,000 non-domiciled commercial drivers. The Ohio bureau reviewed the qualifications of all 5,000 drivers in accordance with the new federal rulemaking. Those non-domiciled drivers will receive one of two letters: either a notice that their CDL will be downgraded within 30 days or a notice that their license will remain valid until its expiration date.

However, the Ohio bureau is no longer issuing or renewing any non-domiciled CDLs, so all 5,000 drivers would eventually lose their commercial licenses. The new federal rule for non-domiciled licenses requires annual renewal, so those licenses’ days are numbered.

Congress is considering more truck parking funding

Another bill on its way to Congress includes some key trucking industry concerns. The House Appropriations Committee approved its version of the Fiscal Year 2027 Transportation, Housing and Urban Development, and Related Agencies Appropriations Act.

This early iteration of the funding package includes several DOT provisions intended to help the trucking industry, including $200 million for truck parking funding, several studies on key issues, and regulatory changes to support autonomous trucks. 

Senators are asking to repeal the Federal Excise Tax

Once again, a couple of lawmakers are proposing to repeal the Federal Excise Tax (FET). The latest attempt is the Senate version of the Modern, Clean, and Safe Trucks Act, which proposes that Congress repeal the excise tax—and do so without substituting any other revenue mechanism for the Highway Trust Fund. This same act was introduced in the House last year with little success.

In fuel this week, diesel fell 17 cents

The national average on-highway diesel price fell by a good amount last week. The Energy Information Administration estimates diesel fell 17 cents to $5.35 per gallon, while AAA’s latest estimate finds diesel fell 6 cents to $5.39 per gallon. Gasoline fell 17 cents to $4.31, according to EIA.

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