How Potential Oil Tariffs Could Drive $5 Gas — and Boost Electric vehicle Sales

By Douglas McIntyre  •  November 28, 2024

Douglas McIntyre discusses the potential impact of new Trump administration tariffs on Canadian oil, which supplies 60% of U.S. imports. If the taxes push oil prices above $100 per barrel, gas could reach $5 per gallon, potentially boosting the EV market, thus offering a silver lining to the expected arrangement.

  1. Finding a fiduciary financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 financial advisors that serve your area in 5 minutes.
  2. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. Get on the path toward achieving your financial goals!