In the US, the introduction of 10% of oil import duties can lead to an increase in Americans' costs for gasoline by $ 22 billion annually. This decision, which came into force on March 4, 2025 after a monthly delay, applies to oil coming from Canada and Mexico, which together make up about 70% of oil imports in the United States. Both countries have become the main oil suppliers after Donald Trump's Presidential Administration actually banned the import of oil from Venezuela.
According to Bloomberg, Trump has already announced the introduction of 25% of duties on imports of goods from Mexico and Canada, but a reduced duty of 10% was set for Canadian oil. This solution can seriously affect the prices of gasoline in the US, as oil importers often shift additional costs to end consumers.
Currently, gasoline prices in the US are at the lowest level over the last three years: the average price is $ 3.1 per gallon. However, an increase in oil costs can lead to an increase in prices, which will worsen the already difficult economic situation in the country. Recently, life prices have become a significant problem for Americans, and long -term inflation expectations have reached the highest level in almost 30 years. According to the University of Michigan, in February this year, Americans expected that the annual increase in consumer prices in the next 5-10 years would be 3.5%, which has been the highest since 1995.
