Analysts say tariffs on oil could cause U.S. gasoline prices to rise, because several U.S. refineries rely on processing Canadian oil; if the tariffs were passed completely along to consumers, it could raise gasoline prices by $0.35/gal in parts of the country, Tom Kloza at the Oil Price Information Service said.

Oil prices rose in aftermarket trading on Friday as U.S. President Donald Trump said he expects his administration to decrease proposed tariffs on Canadian oil from 25% to 10%, and to impose duties on oil and gas around Feb.