
How Will President Trump’s Tariffs Impact Drivers in Maine, New Hampshire, & Massachusetts?
Even though it has been discussed since the early days of President Trump's 2024 presidential election campaign, you may have missed the news that he signed off on a series of new tariffs over the weekend.
On Saturday, President Trump ordered 25% tariffs on goods from Canada and Mexico, and 10% tariffs on goods from China.
In addition to discretionary items, like electronics and high-end alcohol, there will be tariffs on necessities, like fuel.
How Will President Trump's Tariffs Impact the Cost of Gas & Heating Fuels?
According to NBC News, Americans can expect to see an increase in the cost of gasoline, heating oil, and other fuels that are imported from Canada and Mexico.
The article explains that the United States imports about 4 million barrels per day of oil from Canada and about 450,000 barrels per day from Mexico.
The NBC News article goes on to explain that fuel products from Canada will have only a 10% duty. However, the Mexican energy imports will be charged the full 25%. President Trump had initially planned to implement the full 25% tariff on Canada but dropped it to 10% in an effort to reduce the increase in fuel prices.
How much will the cost of gas and other fuels increase, and when will we start to feel this pain at the pump? At this point, we are not sure.
However, it does appear that Irving Oil has provided its customers with information about how the tariffs will affect costs.
Based on screenshots we have seen posted on social media, the company seems to indicate that how you'll be affected depends on your payment plan.
We have yet to find a copy of the press release on the Irving Oil website.
If you have a copy of the press release sent out to Irving customers, feel free to pass it along to us through our app or on Facebook.