Trump’s tariffs could lead to surging gas prices in CT

HARTFORD, CT (WFSB) - Gas prices in Connecticut could skyrocket as a result of the tariffs put in place by the Trump administration.

GasBuddy’s Patrick De Haan said that at 12:01 a.m. on Tuesday, Irving Oil, a major refinery based in Saint John, New Brunswick, Canada, adjusted fuel prices on nearly all fuel heading for the U.S. northeast market to reflect the 10 percent tariff.

“Look for retail prices to react quickly in this market,” De Haan said.

As of Tuesday morning, the average price for a gallon of regular gas in Connecticut was about $3.05.

The tariffs were implemented on Canada and Mexico.

De Haan said fuel prices would be impacted the fastest in states like Maine, Vermont, Connecticut, Massachusetts, and Rhode Island.

“Gasoline and diesel prices in ME, CT, VT, MA, RI, NH are likely to begin rising [Tuesday],” he said. “Pace will vary, but by mid-March, could be 20-40c/gal higher. Jumps may stretch into NY as well.”

De Haan said that wholesale prices, the price gas stations pay, have already started to rise.