A tariff on oil imports could lead to lower production of fuel at those facilities and drive up costs for consumers, analysts and companies have warned.

The tariffs on Canada have been put on a 30 day hold, but economists in Massachusetts think that gas and oil prices will go up preemptively.

President Trump’s tariff on Canadian oil is expected to raise prices at the pump for U.S. consumers, if it takes effect as planned after a 30-day delay.

U.S. West Texas Intermediate (WTI) crude prices were down by 1.1%, or 0.80 cents, to $72.36 at 2323 GMT after U.S. President Donald Trump agreed to pause imposing steep tariffs on Mexico and Canada for one month.

West Texas Intermediate (WTI) crude prices dropped 1.1% to $72.36 per barrel after U.S. President Donald Trump announced a one-month delay on steep tariffs for Mexico and Canada. The move, aimed at strengthening