One of the most pressing concerns for Americans is the possibility of sharp increases in fuel prices beginning next month as a result of President Donald Trump’s new proposal.
This action is expected to go into effect on Sunday, February 2, and if it does, it could have a significant impact on the US oil market, according to Karoline Leavitt, the new White House press secretary.
What is the Trump measure that could increase fuel prices?
It involves the imposition of 25% tariffs on Canadian imports. One of his most controversial campaign ideas, as well as the center of US foreign policy debates.
The reason for the fuel increase is that Canada is the largest foreign supplier of crude oil, accounting for roughly half of the country’s total crude oil imports. A significant number of refineries in the United States are designed to handle heavy crude oil from Canada.
Refineries are likely to raise gasoline prices if tariffs make this oil more expensive, passing the increased cost on to consumers.
Increased transportation costs may also have an impact on the commercial value of the finished product if Canadian imports are reduced to avoid tariffs and other, more distant countries are used instead.
5 ways to save fuel in the face of a potential increase.
To deal with this potential financial impact, consider ways to reduce your gasoline consumption, even if the measure has not yet been implemented and the price increase will not be confirmed until it is.
- Driving efficiently: Habits that help lower fuel usage include avoiding sudden accelerations and stopping, as well as keeping your speed as steady as you can. Avoiding excessive engine revolutions and using cruise control on highways can have a significant impact.
- Maintain the vehicle in good condition: Optimizing fuel economy can be achieved by performing routine maintenance, such as changing the oil, checking tire pressure, and ensuring the engine is operating correctly. A car that is kept up is more fuel-efficient.
- Travel planning: Gas consumption can be decreased by planning your trips to avoid lengthy commutes or heavy traffic. Additionally, for people who depend on cars for a living, choosing to carpool or take public transit may be a good alternative.
- Avoid overloading the vehicle: Fuel efficiency can be increased by carrying only what is required and avoiding bulky, unnecessary loads. The heavier it is, the more gasoline it needs to move.
- Optimize the use of air conditioning: Vehicles with air conditioning use more gasoline. On cool days, open the windows to let fresh air into the car instead of using the air conditioner, and try to use it as little as possible.
Trump provides incentives for US federal employees to resign
In a significant effort to reduce and restructure the US government, US President Donald Trump has given federal employees the option of leaving and continuing to be paid for eight months.
His administration sent out an email asking nearly all government employees to decide by February 6th whether they wanted to participate in a “deferred resignation” scheme, which would require them to leave their jobs by the end of September.
The US Office of Personnel Management (OPM) has stated that individuals who accept the arrangement are not required to work, except in exceptional circumstances, and those who choose to leave will be exempt from Trump’s demand that they work in the office for the duration of their contracts.
This has created uncertainty among those who received the email. According to senior Trump administration officials who spoke with US media, the plan could save the government up to $100 billion (£80 billion).
The offer was made in a statement issued by Trump’s human resources department, OPM, which also mentioned upcoming changes, such as requiring the majority of employees to be in their offices five days a week. Critics have condemned the action.
In a letter to US media, the president of the American Federation of Government Employees (AFGE) union warned that this “purging” could have far-reaching, unexpected consequences that would cause chaos for Americans who rely on a functioning government.