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.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02President Donald Trump's newly imposed tariffs on Canadian and Mexican oil
00:06are expected to lead to higher gas prices in the U.S., according to analysts and fuel traders.
00:11The U.S. imports millions of barrels of Canadian and Mexican oil daily,
00:15but new tariffs are expected to increase refining costs,
00:18which will likely lead to higher prices for consumers.
00:21Analysts and industry groups predict worsening consumer impacts
00:24if tariffs on oil and refined products remain in place.
00:27For all things money, visit Benzinga.com slash GSTV.