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
Evening Report — Comeback complete, Trump hits the gas

Plus: Biden shocks with last-minute family pardons {beacon} Evening Report © Kenny Holston/The New York Times via AP Trump declares return to presidency 'Liberation Day' PRESIDENT TRUMP COMPLETED ...
The Hill - Jan. 20
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

Trump tariffs expected to raise consumer prices

As President Trump imposes tariffs on goods imported to the U.S. from Canada, Mexico and China, economic experts warn they could lead to higher prices for American consumers. NBC News' Brian Cheung ...
NBC News - 14h
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 - 4h
Senior FBI official forcefully resisted Trump administration firings

Brian Driscoll refused to assist in the firing of agents involved in January 6th riot cases, pushing back so forcefully that some feared he would be dismissed.
NBC News - 17h
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 - 12h
Third soldier identified in deadly midair collision over Potomac

All three soldiers who were on board the Army Black Hawk helicopter when it collided with an American Airlines regional jet near Washington D.C., on Jan. 29 have been identified.
NBC News - 1h