Trump’s Tariff Decision Spurs Concerns of Rising Gasoline Costs in the U.S.

President Donald Trump’s newly imposed tariffs on Canadian and Mexican oil are expected to lead to higher gas prices in the U.S., according to analysts and fuel traders. The U.S. imports millions of barrels of Canadian and Mexican oil daily, but new tariffs are expected to increase refining costs, which will likely lead to higher consumer prices. Analysts and industry groups predict worsening consumer impacts if tariffs on oil and refined products remain.