Unfortunately, it looks like higher gas prices might be coming to a gas station near you shortly.
President Donald Trump implemented a 25% tariff on goods imported from Canada and Mexico. However, he did reduce the tariffs on Canadian energy resources (natural gas and oil) to 10%.
These tariffs were going to go into effect already. Then, he changed course, pausing tariffs on all goods under the USMCA, until April 2. Canadian energy is still under a tariff, according to ABC News.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
How tariffs influence gas prices
The USA Today reports U.S. refineries import 4.2 million gallons of crude oil from Canada. This is a sizable contribution that could influence gas prices moving forward.
How much will prices increase? It's anyone's guess at the moment, but the safe bet is you'll see an increase soon. When companies have tariffs imposed on them, they turn around and pass some of those additional expenses onto their customers.
As an illustration, Rachel Ziemba, an adjunct senior fellow at the Center for a New American Security, told USA Today gas prices could rise between 20 to 30 cents per gallon in the near future.
This could place gas prices around where they were last year. AAA reports the average gas prices are $3.11 per gallon nationwide. This is still significantly down from a year ago, when the average price per gallon was $3.39.
To anticipate rising costs, here are a few tips that can help you save significantly at the pump:
1. Get a Costco membership
Warehouse clubs like Costco offer excellent discounts on gas. To demonstrate, the Costco near me offers gas at $2.62 for unleaded, while Sheetz, Speedway and Shell's lowest price is $2.69.
You can also double up on savings with the Costco Anywhere Visa® Card by Citi, where you'll earn 5% back on your first $7,000 in fuel or EV charging purchases. That can help you earn up to $350 cash back annually on top of lower gas costs.
And when you sign up for a Costco membership now, you receive a free $20 digital card.
2. Use your Amazon Prime membership
Prime members can save up to $70 annually at the pump. Activate this offer at amazon.com/fuelsavings.
Next, you'll want to sign up for an earnify account and link your Prime membership to it. Upon doing so, you can use the app to locate bp, ampm or Amoco gas stations nearest you, where the discounts apply.
And if you're not a Prime member, you can try it out for free for 30 days.
3. Use apps to find the best prices
Apps like Gas Buddy can help you locate the cheapest prices in town. The app is free to download, is easy to use, and has helped me save hundreds of dollars by finding less expensive gas stations when I travel.
Another perk of the service is you can read users' reviews of gas stations. They might recommend cheaper options nearby, payment methods available at the station or if there's been a skimming issue you want to keep in mind.
4. Take advantage of cash back rewards
Many credit cards come with cash back rewards you can use to lower your fuel costs. If you're a member of Sam's Club, you can apply for the Sam’s Club® Mastercard®. With it, you'll earn 5% cash back on fuel and EV charging expenses on the first $6,000 spent annually, saving you up to $300 per year.
When using credit cards, make sure to pay the balances off in full each month. If not, the interest accrued can eat away at your rewards.
The bottom line
With president Donald Trump imposing tariffs on imported goods from Canada now and Mexico on April 2, it will influence fuel costs moving forward. While it's mostly speculation on how much prices will rise, having a plan in place now can help you save money before gas prices rise.
Related content
Disclaimer
This article only reviews select credit cards with dining-out and grocery store rewards. We may get compensation if you visit partner links on our site. We may not cover every available offer. Our relationship with advertisers may impact how an offer is presented on our website. However, our selection of products is made independently of our relationship to advertisers. Bonus offers and rates checked as of March 6, 2025.
-
5 Easy Weatherproofing Projects That Help Prevent Damage and Save on InsuranceProtect your home from storms and water damage with these simple weatherproofing upgrades — some may help reduce your home insurance premium.
-
If Trump Fires Jerome Powell, What Happens To Savings and Mortgage Rates?President Donald Trump expressed his desire to remove Fed Chair Jerome Powell. If the president is successful, how would it impact your savings accounts?
-
What Happens To Mortgage and Savings Rates If Trump Fires Jerome Powell?
President Donald Trump expressed his desire to remove Fed Chair Jerome Powell. If the president is successful, how would it impact your savings accounts?
-
What to Stock Up On (and What to Skip) Before Tariffs Raise PricesWith tariffs set to return on July 8, 2025, prices on everything from appliances to clothing could rise. Learn what to buy now, what to skip and how to protect your budget.
-
Why You Need a Trusted Contact for Your BrokerageYour brokerage or bank needs someone to reach out to if it's concerned you're experiencing fraud or cognitive decline. That's where a trusted contact can help.
-
Three Simple Ways to Live Greener This Earth DayCelebrate Earth Day with three simple, impactful habits — save energy, go green at home and give back to nature.
-
6 Summer Books to Clear Your Mind (or Totally Escape It)From breakthrough habits to beach-worthy thrillers, these summer reads will help you refocus your mind or blissfully forget what day it is.
-
Four Takeaways From Filing Your Taxes to Boost Your Financial FutureNow that another tax season is in the rearview mirror for most of us, what lessons can you take from what you learned about your finances to plan for the future?
-
What Claims Adjusters Are Thinking vs What They're SayingAfter a natural disaster, few of us are at our best, but here's what to keep in mind when you're interacting with your insurance company's claims adjuster.
-
Looking to Make a Job Change? How to Stand Out Like a ProTo make a strong first impression in interviews or when networking, skip your job title and work history and use an opening gambit that highlights your talents.
