Should’a bought that ev! Joseph Brusuelas Notes Tariffs Should Show Up in Gas Prices in the Midwest Pretty Quick.
Source: Brusuelas (2025).
Current Price is about $ 3/Gallon.
Source: Eia.
If the Current Price of Petroleum (WTI) is $ 73.51. An increase in prices of 10% due to tariffs results in A $ 7.35 increase. This implies a 18 cent increase in gasoline prices from the tariffs, using Jim’s rule of thumb.