A drop of relief from high fuel prices may be on the way if an agreement can be reached in Washington. President Biden plans to call for a three-month suspension of the federal gasoline and diesel taxes, the WSJ’s Andrew Restuccia, Andrew Duehren and Tarini Parti report, an idea that is already getting a cold shoulder in Congress and drawing criticism from some business groups. A suspension of the 18.4-cents-a-gallon federal gasoline tax and 24.4-cents-a-gallon diesel tax through September would require congressional approval. It’s unclear whether the suspension would pass through from wholesalers and retailers to consumers and whether it would deplete funds available for highways, bridges and other projects. The American Road & Transportation Builders Association said the idea “sets a bad precedent and undermines the funding mechanism” in the infrastructure law.

Gasoline sales in the U.S. fell 8.2% in the first week of June from the same week last year. The 14th straight decline is a sign that high prices at the pump are having an impact on demand and on consumer behavior. Purchases of diesel, which in the U.S. is used primarily for trucking and heavy industry, show less demand impact despite even higher fuel prices. But some diesel drivers say they are also reducing their consumption as high fuel costs make business less profitable.

• Oil prices on global markets have slipped to their lowest levels since last month. (WSJ)
• The International Energy Agency says rising energy investments around the world aren’t enough to tamp down high prices. (WSJ)

Europe’s latest moves to reduce greenhouse gas emissions are sending shudders through the global trading world. The European Parliament approved legislation to tax imports based on the greenhouse gases emitted to make them, the WSJ’s Matthew Dalton and Kim Mackrael report, as the European Union pushes to get other major economies to set a price on carbon. The EU is coupling the border tax with a plan to lower the bloc’s carbon dioxide cap for industries covered by its emissions trading system. The lawmakers also voted to include the maritime and commercial road transport in the emissions trading system, a blow to a shipping sector that is addressing emissions on its own schedule. The tariff plan may have a bigger immediate impact on global trade. The proposal has drawn protests from China and other developing-world manufacturers that could face a hefty carbon bill on their exports to Europe.

• Ford will build electric vehicles at its factory in Spain as it prepares for a potential European ban on production of gas and diesel vehicles after 2035. (WSJ)

Russia is taking unrelenting aim at Ukraine’s ability to export food. Moscow’s forces have targeted at least two large North American-owned grain terminals in the Ukrainian port of Mykolaiv, the WSJ’s Alistair MacDonald, Bojan Pancevski and Drew Hinshaw report, in what Western governments say is a growing attempt to degrade Ukraine’s ability to ship out its grain harvests. Canadian agribusiness Viterra and U.S. grain trader Bunge both said that they had a grain terminal hit. Russia has also repeatedly hit a bridge used to take grain to the Romanian border and the Port of Constanta. A large sunflower-oil processing plant and other grain terminals have also been hit, and Wednesday’s attack is the second time Bunge has been targeted. Russia’s invasion has left about 18 million metric tons of grain stranded in Ukraine. One Ukrainian official said ports still in Ukrainian hands “are constantly being bombarded.”

• A U.S. push to pare back one of the European Union’s sanctions on Russian oil is gaining traction within the bloc. (WSJ)

Inflation in the U.K. rose to 9.1% in May, a fresh four-decade high. (WSJ) 

A subsidiary of commodities giant Glencore pleaded guilty in the U.K. to charges involving bribery and market manipulation. (WSJ)

Cargill will start enrolling U.S. cotton suppliers in its program rewarding growers for sustainable production. (Sourcing Journal)

An Illinois exporter filed claims with U.S. regulators that Taiwan’s Yang Ming and South Korea’s HMM colluded in violating contract obligations. (The Loadstar)

A.P. Moller-Maersk is preparing to order four 16,000-box, methanol-fueled container ships at a cost of $2.2 billion. (TradeWinds)

Unnamed buyers have ordered 14 large liquefied natural gas carriers from South Korea’s Samsung Heavy Industries in deals worth a total of $3 billion. (Lloyd’s List)

Food-delivery company DoorDash is stepping up competition in the sector with an agreement to build warehouses for Canadian grocery chain Loblaw. (Financial Times)

Ocado is building a 300,000-square-foot automated warehouse for Kroger in Denver. (Supermarket News)

Daimler Trucks CEO Martin Daum says the truck maker still faces “enormous pressure” in its supply chain that is holding up production of vehicles. (CNBC)

Indian trucking marketplace Vahak raised $14 million in a Series A funding round. (TechCrunch)

Large numbers of companies in a survey say they have changed the way they buy and use packaging. (DC Velocity)

Paul Page is editor of WSJ Logistics Report. Write to him at paul.page@wsj.com.

Follow the WSJ Logistics Report team: @PaulPage, @bylizyoung and @pdberger. Follow the WSJ Logistics Report on Twitter at @WSJLogistics.