US Issues Temporary Waiver of Jones Act to Curb Soaring Oil Prices

SighingCashier · 2026-03-18T21:39:12+00:00

US President Trump temporarily waives the Jones Act, allowing foreign vessels to transport oil and natural gas in the United States for a period of 60 days to reduce transportation costs. This move aims to alleviate pressure on energy transportation and may mitigate the impact of soaring prices, with estimates of saving approximately 10 cents per gallon for East Coast drivers.

SighingCashier

2026-03-18 21:39:12

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Bloomberg reports that U.S. President Trump has temporarily waived the Jones Act to reduce transportation costs for oil, natural gas, and other bulk commodities within the United States.

This waiver authorizes foreign-flagged vessels to transport a range of bulk goods between U.S. ports over the next 60 days, exempting the requirement that ships be American-flagged, built, and owned.

Since the outbreak of the Iran conflict, energy and fertilizer prices have continued to surge. This move is expected to ease transportation pressures on energy products and potentially reduce price increases, with estimates suggesting it could save drivers on the East Coast about 10 cents per gallon.

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