Analysts: Expect Gas Prices To Spike Within Weeks

Reuters reports:

U.S. retail gasoline prices are set to climb in the coming weeks as new tariffs imposed by the administration of President Donald Trump raise the cost of energy imports, according to traders and analysts. The outlook underscores an unintended consequence of Trump’s protectionist trade policies, which are meant to boost the U.S. economy but could instead lead to bigger bills for consumers.

A 25% tariff on all imports from Mexico and a 10% tariff on Canadian energy came into effect on Tuesday. That has already triggered a surge in wholesale gasoline prices in the U.S. Northeast, a region that relies heavily on Canadian shipments of gasoline, heating oil and diesel.That hike will start filtering through to New England’s pumps soon, retail fuel experts said.

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