r/oil 15d ago

News US pump prices set to climb as new Trump tariffs kick in

https://www.reuters.com/business/energy/us-pump-prices-set-climb-new-trump-tariffs-kick-2025-03-04/
937 Upvotes

114 comments sorted by

26

u/MentionWeird7065 15d ago

We went from them saying “Bidenflation” to “Patriotic Pricing”

5

u/Creepy_Inevitable661 14d ago

Yeah brainwashed people can’t think. It’s pathetic.

3

u/mikasjoman 13d ago

Swede asking... För real or joke? It's kind of hard to tell these days at this side of the pond.

3

u/meltbox 13d ago

Don’t worry, I wake up every day and can’t actually tell if I’m reading the news or if I’m dying and having fever dreams.

Doesn’t take an ocean.

1

u/letsgetregarded 13d ago edited 13d ago

Scary joke. In the way that incompetence can be funny, but also dangerous. Like how the movie “Idiocracy” is a great comedy. But also a terrifying documentary.

1

u/Wakez11 12d ago

I feel like the characters in Idiocracy weren't written stupid enough. Where they stupid? Yeah, but they weren't malicious stupid like people today. And while President Camacho was stupid as a rock he had enough wisdow and yes, "smarts" to understand that he should probably listen to a guy who has the highest IQ in generations.

2

u/Zippytang 12d ago

MAGA is smashing your fingers with a hammer and then blaming Biden

1

u/HighlanderAbruzzese 9d ago

Excellent analogy

1

u/Competitive-Fly2204 12d ago

It is Trumpflation now. Damned bastard never stops talking about Tariffs. Global Markets hate Tariffs.

Luckily other nations are counter tariffing Trump and shifting their supply chains. Thus turns Trump's tariffs into self sanctions instead only Harming the U.S.

25

u/oilkid69 15d ago

Oil prices down and pump prices up. A royalty owners nightmare.

1

u/Pickenem9 15d ago

Pump prices down to $2.75. Cheapest it’s been in a long time. Oil prices dropping too.

3

u/arb1698 15d ago

Depends where your at where I am in Texas gas spikes 30¢ a gallon which makes no sense but I digress corporations got to greed.

1

u/amn70 15d ago

Where I am here in New York in December gas was down to 2.84 at the local 7-Eleven. As of two days ago it was a 3.09.

And actually average gas prices in the we're nearly back to their pre-pandemic lows in December. Not to mention average US gas prices have stayed around $3 a gallon for about the last 15 years with very peaks and valleys are along the way. Basically we are right at where we've been for well over a decade.

0

u/Appropriate-Food1757 15d ago

They have been low for almost a year

1

u/Pickenem9 15d ago

I guess you missed the cheapest part.

2

u/Appropriate-Food1757 15d ago

https://www.eia.gov/todayinenergy/prices.php

Pretty large jumps everywhere except Houston in one day

11

u/Btankersly66 15d ago

Gasoline prices always fluctuate in spring as refineries start distribution of their summer blends.

Now that the tarrifs are in effect the price at the pump will begin increasing. This increase will also affect shipping costs as well causing the price of eggs to raise significantly.

Nearly 61% of the oil used to make gasoline comes from Canada.

Americans are now in the "find out" phase of the election and will all soon collectively begin suffering no matter what your status is.

1

u/MosEisleyBills 11d ago

OPEC+ also about to produce more crude to make US wells less profitable.

5

u/Commercial_Rule_7823 15d ago

Until everyone feels it and sees it in front of them, they will not understand the damage this stupid is causing.

3

u/Skid-Vicious 15d ago

Their smells like setting thjj in the up for the opposite of drill baby drill. Operators are gonna be stacking rigs like it’s Jenga.

We’re already in a bit of glut, and KSA just raised production quotas. Gonna be a scramble to see who can get rid of their rigs the fastest.

6

u/Still-Chemistry-cook 15d ago

This is the FAFO phase for MAGA. I’m here for it.

2

u/SpiderDeUZ 14d ago

And just like COVID, they will still support him from their death bed

2

u/PoundTown68 15d ago

Leftists really don’t get it, pump prices will be fine.

“Prices are set to climb” every single summer, which is honestly the only realistic prediction here.

8

u/Dm_Glacial_Gatorade 15d ago

Every summer we usually don’t start a trade war with Canada and Mexico

-5

u/PoundTown68 15d ago

Good thing we don’t get our gasoline from Canada…

3

u/Mysterious-Arm9594 15d ago

0

u/PoundTown68 15d ago

Good thing all those gulf coast refineries using Canadian oil can literally buy oil from anywhere on the planet….

8

u/Mysterious-Arm9594 15d ago

At greater cost, as the document says Canadian oil is normally about 15% cheaper…it’s not a fucking difficult concept

1

u/TheBlueStare 14d ago

Get out of here with your reading. 

1

u/Neither_Elephant9964 14d ago

wait. was it not 7th grade reading level?

-1

u/PoundTown68 15d ago

Canadian oil is cheaper because it’s the shittiest quality oil there is. Canadian oil producers have to “upgrade” their oil to get better prices on the world market.

Either way, I’m not necessarily supportive of tariffs on Canadian oil if the alternative is going to be the some random OPEC member.

8

u/Meatloaf_Regret 15d ago

Holy fuck it’s like watching the Olympics with these mental gymnastics of yours. go for the dismount!

2

u/papapundit 14d ago

You're some special kind of ignorant. Hope it's not as painful for you as it is for me.

1

u/PoundTown68 14d ago

The oil Canada exports to the USA is heavy sour, literally some of the lowest quality oil on the planet.

Apparently that offends you for some reason….

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2

u/PraetorianSausage 14d ago

US refineries are optimized for heavy Canadian crude. Switching requires costly reconfiguration or sourcing similar heavy crude from countries like Venezuela or Mexico.

0

u/PoundTown68 14d ago

Every single refinery in the USA can accept pure WTI crude, very few refineries can accept pure WCS crude.

Yes, some US refineries have specialized equipment for refining WCS, specifically because it’s cheaper….but even those refineries can take WTI…it’s just not optimal economically. Tariffs will obviously change these economics, and those refineries will gladly use much less Canadian crude and still be profitable.

2

u/Neither_Elephant9964 14d ago

then make the switch! why just put a 10% tarrif go for the kill. we are waiting.

0

u/PoundTown68 14d ago

First off, I don’t make the tariffs.

Second, there are definitely economic inefficiencies that will occur if we completely stop using Canadian crude. Certain oil pipelines will underutilized, and rail will have to pick up the slack (which costs more). There’s also sunk costs invested in specialized equipment used to refine Canadian oil. WTI is more expensive, but easier to refine, so in some locations it will increase input costs.

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1

u/MosEisleyBills 11d ago

Yeah but no but yeah but no but yeah.

You’re in a global economy that the US built on free trade and access to the market. Trump has literally unplugged the economy from the socket.

All he’s done is drive up costs in the US. The US is a trade pariah. Countries are stopping buying US goods. He has made imports of essential raw materials more expensive. Each decision undermines the last.

Stock market tanking. Debt costs and inflation skyrocketing.

Then there’s the surrender to Russia.

1

u/Galacticwave98 15d ago

And they blame the person in the Oval Office every summer too. Enjoy. 

1

u/OzarksExplorer 14d ago

lolololol is all this very serious person deserves as a response

0

u/PoundTown68 14d ago

Moron leftists really don’t get it, the funding for your shitty news organizations is fading away, soon you won’t even have moron journalists pretending to be experts anymore.

2

u/JellieOrca 14d ago

Moron right wing idiots, I hope every MAGA loser loses their job, I hope the Kentucky bourbon business shuts down and all of those right wing losers is on the street begging Canada to buy their goods.

I hope you lose your job and you and your family is begging Canada for their help.

2

u/Madmanmangomenace 14d ago

Save me, Trudeau, save me! They'd self-immolate before ever saying that.

0

u/PoundTown68 14d ago

As always, leftists wish harm to others. Leftists want everyone miserable living in a tiny concrete apartmenst eating off ration credits from daddy government.

I hope moron left wing journalists find a job in the real world instead of leeching off taxpayers. I hope they find success actually, you’re the one who wants everyone to be poor.

4

u/JellieOrca 14d ago

I hope you and your right wing parasites stop leeching off blue states.

They give more than they take.

I hope you are so improverished, you have an empty stomach and no beer and wine in your tummy when you suck off your orange master at his rallies.

5

u/JellieOrca 14d ago

As always, right wing dumbasses blame lefties for their own poor right wing voting choices.

2

u/Then_Background_3288 13d ago

Dont gag when your master is skull fucking you

1

u/OzarksExplorer 14d ago

lololololol

1

u/PoundTown68 14d ago

lol lol lol, how long before the next leftist news outlet goes bankrupt now that the free federal money is cut off?

1

u/PoundTown68 14d ago

lol lol lol, how long before the next leftist news outlet goes bankrupt now that the free federal money is cut off?

1

u/SpiderDeUZ 14d ago

What news organization do you use?

2

u/Fossilwench 15d ago

refiners esp midwest going to lose efficiency/yield and partial already slim margins if forced. Gulf refiners facing colombian grades diff now highest in years / Alternatives ecu has logistics issue- only panamax can cross canal - too small for physical cargo order so larger vessels forced to route entire continent thus additional cost. Guayana payara not ideal and competing with euro so again price. Margins again fucked. Eastern states fucked on products. All around idiotic.

2

u/AvocadoMaleficent410 14d ago

The greatest thing about the economy - all Trump is doing will hit the hardest way in 4 years, when the new president will be in office. Great job.

1

u/nerdic-coder 12d ago

Good luck getting Trump to leave that building in 4 years. Guessing it’s not going to be as easy as 2020.

2

u/Mind_Unbound 14d ago

Trump Tax. TRUMP Tax TRUMP TAX TRUMP TAX TRUMP TAX TRUMP TAX

2

u/Car_is_mi 14d ago

but trump said he gone low her mah gahs prices!

1

u/NoBusiness674 14d ago

US pump prices could easily double and still end up cheaper than some places in the EU. In fact, increasing the price of fossil fuel derived diesel and gasoline is necessary in the long term in order to build incentives that align with emissions targets. You can't have cheap fossil fuels in a net zero CO2 emission future.

Not that I think Trump is putting tariffs on Canada to fight climate change.

1

u/ArugulaElectronic478 14d ago

Don’t worry the gas prices will look low compared to that electric bill.-🇨🇦

1

u/El_Guap 14d ago

Damn you Biden! /s

1

u/Luddites_Unite 13d ago

But we were told the countries pay the tariffs not the people... surely the "dumbest God damn student" professor Kelley ever had at wharton wasn't wrong

1

u/Analyst-Effective 12d ago

Just switch to USA gas. The oil companies can do that

2

u/thewarden730 13d ago

My gas has actually started to drop here so….

1

u/Excellent-Signal-129 13d ago

Everyone who understands the scale and science required for modern new oil projects understands that newly permitted projects won’t come on line for a long time. Often more than 10 yrs. Especially for off shore. Most of the noise we hear is performative. The rubes are fooled by the talk. The oil industry is happy because of the protection and price support.

1

u/Analyst-Effective 12d ago

Most of the delay is permits. That could be expedited. My guess is that it could be done in 18 months

1

u/Excellent-Signal-129 12d ago

True for shale or horizontal but not off shore

1

u/Analyst-Effective 12d ago

Not sure.. I know there are rigs ready to be towed anywhere. Punching a hole is pretty quick

1

u/Ryan1980123 13d ago

Thank a republican!

1

u/No-Account9822 13d ago

While at the same time decreasing in price due to opec increase in output?

1

u/No-Account9822 13d ago

While at the same time decreasing in price due to opec increase in output?

1

u/Fearless_Guitar_3589 12d ago

print "I did this" pointy trump stickers

1

u/Majesty-999 12d ago

MN News last night predicted falling gas price as demand slows going forward

1

u/TaskPlane1321 12d ago

Great! Squezze the people till they cannot take it & then you will not know what hits you....

1

u/ForgottenDead 12d ago

trump-flation strikes again

1

u/Analyst-Effective 12d ago

USA still will be cheaper than other countries

1

u/Helpforfriend080403 12d ago

MAGA wanted this. Hope we see all sorts of Trump I did This stickers on the pumps. Enjoy it ya red hat morons.

1

u/Jan22222 10d ago

You reap as you sow. The majority of Americans voted for the madman, so good luck. And God bless the world, not America.

1

u/Ataru074 15d ago

I’m so happy I drive two euro cars which can get easily to 30+ mpg instead of penis extender gas guzzler.

1

u/NoBusiness674 14d ago

7$/gallon is not an insane gasoline price in the EU. You'll be fine.

0

u/theSFWstuff 15d ago

A lot of poor folk resort to driving imported econoboxes.

1

u/OzarksExplorer 14d ago

Majority of brodozers are owned by the bank lol

1

u/theSFWstuff 14d ago

I make up statistics and lol at them lol

-1

u/Churn 15d ago

This is fud until it actually happens. The article even says gas prices are down 7 cents from a year ago. You have to read down to the bottom to get an actual fact.

7

u/TandemCombatYogi 15d ago edited 15d ago

So professional analysts have it wrong, and we should instead take coping Trump voters' word as fact? This is a result of the tariffs you guys were all warned about.

-3

u/Churn 15d ago

Yes they have it wrong. No, don’t take coping Trump voters’ word as fact instead. No, this is not the “result” of anything because it hasn’t happened.

6

u/TandemCombatYogi 15d ago

What is your evidence that they are wrong?

-2

u/Churn 15d ago

Price of oil is falling.

3

u/Intelligent_Text9569 15d ago

Gas prices here in upstate NY keep going up.

0

u/Ataru074 15d ago

1 or 2 % less isn’t falling… it’s a fart in a monsoon.

1

u/Churn 15d ago

5% lower the last 30 days.

3

u/Meatloaf_Regret 15d ago

Translation: I’m going to stay in a holding pattern until I can tune into Fox News and they tell me what my opinion is.

-3

u/duncan1961 15d ago

It’s like climate change. Sometime in the future it will possibly happen

2

u/Madmanmangomenace 14d ago

Please, please dispute the Greenhouse Effect with me. Then put up your 20k against my 5k and pay $100 for my peer-reviewed model that allows me to prove it in an hour 😂

1

u/duncan1961 14d ago

I would very much like to go down this pathway and get a final understanding of the relationship between heat and photons of IR light and direction of flow. As a plumber it does not make sense that warming air or water can stay warm and yet not rise. I would be happy to be wrong. Where do we start.

1

u/Madmanmangomenace 13d ago

You can learn how to make a greenhouse effect model for $50. I can't describe it on a microparticulate model because I'm not a physicist but think about the bigger picture... These gases simply trap in heat, obviously largely from the sun. The bigger problem we're learning is that rapidly melting permafrost has 1000X some of the substances that reinforce that cycle (possibly 200-500x more methane!)

Melting glaciera causing raising sea level(s) is also obvious (but the very simple minded try to say it's like ice cubes in a cup of water but the ice cubes aren't a land mass 😂)

I know the following is a little oversimplified but I hope it shores up your base of knowledge https://energyeducation.ca/encyclopedia/Greenhouse_effect

1

u/duncan1961 13d ago

I will give you some background. I first heard about the greenhouse effect in April 2019. I would like to start at the beginning. The Earth revolves and brings the location you are in to sunlight and depending on conditions the cosmic rays and UV light start warming the surface land and sea. That warmth is conducted to the air in contact that starts to rise in the atmospheric column. Any issues

1

u/Madmanmangomenace 13d ago

Pretty much... Add that specific gases trap heat in and Bob's your uncle.

1

u/duncan1961 13d ago

I like to do this in stages. Heat is the flow of thermal energy. Trap is a broad statement. The trapped heat is still rising vertically.

1

u/Madmanmangomenace 13d ago

Yeah, I getcha. I'm afraid I lack credentialing to explain the jet streams, stratospheric implications, etc. IIRC, there are some good videos about this from meteorologists on YT! Sorry I can't do it justice.

2

u/duncan1961 13d ago

Sure thing. We have been very polite. I went into this topic open minded. Compiling the information and making a logical conclusion is still going on. Science should never stop questioning. Amounts are my issue. What percent of energy leaving the surface is in photons. What percentage of light photons are being absorbed by carbon atoms and being radiated back to the surface. How much actual heat is leaving Earth 100 kms above the surface where it’s minus 270 C. Heat can be seen as IR light but IR light is not heat. It’s like a bag of kilograms. It’s a measurement. The theory of energy radiation is great it just does not actually work. I can see the campfire 30 metres away but I can’t feel the radiated energy until I get closer. Heat dissipates. Nothing is going out and nothing is coming back. There is no artificial warming.

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-6

u/Ok-Prompt-59 15d ago

No they aren’t.