American Petroleum Institute CEO Mike Sommers said Thursday that his trade group is working to ensure that crude oil is excluded from a potential tariff fight between the United States and its neighbors.
Sommers pointed to gasoline, telling reporters “it’s important to keep American gas prices low.” Analysts say refiners would likely pass the cost of any tariffs to U.S. customers, meaning prices at the pump could rise.
“We import a lot of oil from both Mexico and Canada, and we refine it here in the most sophisticated refinery system in the world,” Sommers said on the sidelines of a United States Energy Association event in Washington. “We’re going to continue to work with the Trump administration on this so that they understand how important it is that we continue these trade relationships.”
President Donald Trump has touted potential tariffs as a key part of his economic strategy, though the timeline and details could still change.
