This paper provides a comparative assessment of three economic optimal control strategies, aimed at minimizing the fuel consumption of heavy-duty trucks in a highway environment, under a representative lead vehicle model informed by traffic data. These strategies fuse a global, off-line dynamic programming (DP) optimization with online model predictive control (MPC). We then show how two of the three strategies can be adapted to accommodate the presence of traffic and optimally navigate signalized intersections using infrastructure-to-vehicular (I2V) communication. The MPC optimization, which is local in nature, makes refinements to a coarsely (but globally, subject to grid resolution) optimized target velocity profile from the DP optimization. The three candidate economic MPC formulations that are evaluated include a nonlinear time-based formulation that directly penalizes the predicted fuel consumption, a nonlinear time-based formulation that penalizes the braking effort as a surrogate for fuel consumption, and a linear distance-based convex formulation that maintains a tradeoff between energy expenditure and tracking of the coarsely optimized velocity profile obtained from DP. Using a medium-fidelity Simulink model, based on a Volvo truck’s longitudinal and engine dynamics, we analyze the optimization’s performance on four highway routes under various traffic scenarios. Results demonstrate 3.7%–8.3% fuel economy improvement on highway routes without traffic and 6.5%–10% on the same routes with traffic included. Furthermore, we present a detailed analysis of energy usage by “type” (aerodynamic losses, braking losses, and comparison of brake-specific fuel consumption), under each candidate control strategy.