Gas prices set to rise as Trump tariffs hit Canadian and Mexican oil

U.S. consumers will see higher prices at the gas pump from President Donald Trump’s decision on Saturday to apply tariffs on Canadian and Mexican oil, according to analysts and fuel traders.

Topics

Trump Tariffs Could Hurt Oil Companies and Raise Gas Prices

Some oil refineries will probably struggle to replace imported crude oil if President Trump imposes 25 percent tariffs on products from Canada and Mexico.
The New York Times - 1d
Trump says he'll impose tariffs on oil and gas imports next month

President Trump on Friday proposed significant new tariffs on multiple sectors of the economy.
CBS News - 1d
Oil prices post weekly drop as outline of Trump’s tariff plans emerges

Oil futures ended lower Friday, contributing to a loss for the week, though prices held on to a gain for the month as traders awaited a tariff decision by President Donald Trump on crude imports ...
MarketWatch - 1d
Trump Tariffs Could Hit Cars, Clothes and Food Prices Fast

The levies could go into effect within the next few days.
Inc. - 5d
Oil prices end lower on Trump’s tariff talk, concerns over AI-related power demand

Oil futures settled lower on Monday, as the Trump administration’s ongoing tariff threats and their potential economic impact, along with concerns over the potential for a slowdown in AI-related ...
MarketWatch - 5d
Trump Stocks E.P.A. With Oil, Gas and Chemical Lobbyists

Top political appointees are already at the E.P.A. preparing to erase the agency’s climate rules and pollution controls. Many of them have tried it before.
The New York Times - Jan. 25
Trump promised to lower gas prices — but his tariffs could help raise them instead

President Donald Trump’s “drill, baby, drill” pledge is well known, but drivers may end up paying more at the pump in the coming months despite his plans to lift U.S. oil production.
MarketWatch - Jan. 22
Trump tariffs on Canada could jeopardize oil and gas exports to U.S., says trade chief

President-elect Donald Trump's threatened tariffs could prompt Canada to pursue dollar-to-dollar retaliation or an export tax on oil and gas bound for the U.S.
CNBC - Jan. 16

More from NBC News

Canada, Mexico and China slam Trump's tariffs

After President Trump signed executive orders imposing massive tariffs on Canada, Mexico and China, the three countries vowed to retaliate with tariffs on the U.S. NBC’s Yamiche Alcindor reports ...
NBC News - 6h
Trump is waging war against his own government

Trump is waging war against his own government, creating a deep sense of fear in the federal workforce — and recipients of federal aid.
NBC News - 9h
Kristi Noem says 'due process will be followed' for migrants at Guantanamo Bay

Homeland Security Secretary Kristi Noem on Sunday said that "due process will be followed" for all migrants housed at Guantanamo Bay.
NBC News - 4h
Tulsi Gabbard faces growing concern about her nomination after a tough confirmation hearing

Tulsi Gabbard’s nomination for director of national intelligence could be in serious trouble after her confirmation hearing this past week, multiple people familiar with the matter told NBC News.
NBC News - 17h
Simultaneous explosions by Israeli military destroys buildings in the West Bank

The Israeli military destroyed more than two dozen buildings in Jenin, a city in the occupied West Bank, as Israel turned to the territory since withdrawing some of its troops during the ongoing ...
NBC News - 4h