Trump Administration Grants 60-Day Jones Act Waiver to Address Rising Gas Prices Amid Iran Conflict
Here's what it means for you.
Rising gas prices could impact your budget and business expenses.
What happened
On March 18, 2026, the Trump administration suspended the Jones Act for 60 days to allow foreign vessels to transport oil and gas between U.S. ports.
The Context
- Gas prices surged by 29% to an average of $3.84 per gallon due to disruptions from the U.S.-Israeli war against Iran.
- The Jones Act, enacted in 1920, mandates that goods shipped between U.S. ports must use American-built and crewed vessels, raising domestic shipping costs.
- The waiver is temporary and aims to provide only marginal relief, with analysts predicting a decrease of 3-10 cents per gallon at the pump.
The Number
— the national average gasoline price per gallon after a significant rise, which directly affects your commuting and operational costs.
Takeaway
Expect only slight price relief at the pump, while the geopolitical landscape continues to influence energy markets.
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Trump temporarily waives the Jones Act to try to lower gasoline prices. Will it work?
President Trump has announced a temporary waiver of the Jones Act, a law that restricts which ships can transport goods between U.S. ports, in an effort to lower gasoline prices amid rising fuel costs linked to the ongoing conflict with Iran.