Trump oil tariffs expected to raise price at the pump
President Trump’s tariff on Canadian oil is expected to raise prices at the pump for U.S. consumers, if it takes effect as planned after a 30-day delay.
Analysts told The Hill that the 10 percent tariff set to be imposed under an executive order Trump signed over the weekend would lead to a pricing bump, though it would not be evenly distributed. According to Patrick De Haan, head of petroleum analysis at GasBuddy, consumers in the Midwest, Rockies and New England would see the greatest impacts.
“New England relies on refined products from Canada,” said De Haan, referring to products like gasoline that are processed at Canadian refineries.
“Refineries in the Midwest, Great Lakes and Rockies rely more on the Canadian crude oil for sourcing oil for their refineries,” he added.
Ultimately, De Haan said, drivers in New England could see gasoline prices rise by 15 cents to 25 cents per gallon. In the Midwest, Rockies and Great........
© The Hill
