Tariffs on imports mean higher costs for finishing fuels, much of which is likely to be passed on to consumers

Summary

Trump’s new tariffs on Canadian and Mexican oil are expected to raise U.S. gas prices.

Canadian oil imports face a 10% tariff, while Mexican oil is hit with 25%, increasing refining costs.

Analysts warn the tariffs will push fuel prices higher, with Midwest refineries particularly vulnerable due to reliance on Canadian crude.

East Coast drivers may also see cost hikes due to limited refining capacity.

Fuel traders expect the added costs to be passed on to consumers, contradicting Trump’s false promise to curb inflation.

  • OutlierBlue@lemmy.caEnglish
    20·
    8 hours ago

    And not just “gas and everything” but also double that because all those things that will get tariffs will also be hit with increased transport costs because of increased oil costs.