
Gas Prices Down As Economists Wait for Effects of Trump Tariffs
UNDATED (WJON News) -- Average gasoline prices in Minnesota have fallen 6.1 cents in the past week, averaging $2.94 a gallon.
The national average price of gasoline has fallen 3.5 cents, averaging $3.04.
The national average price of diesel has decreased 2.4 cents in the last week and stands at $3.62 per gallon.
Gas Buddy says the national average has seen little meaningful change over the past week.
However, with President Trump imposing tariffs on Canada and Mexico, some motorists may see gas prices inch up in certain regions. Trump's new trade war has already triggered retaliatory tariffs on U.S. goods. Gas Buddy says they expect a modest impact on fuel prices particularly in the Great Lakes, Midwest, Rockies, and Northeast U.S. all markets that rely heavily on Canadian crude oil or refined product imports from Canada.

However, a prolonged trade war could weaken global economies, reducing demand and partially offset the effects of the tariffs.
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