The Trump administration announced on Friday it was issuing a 90-day extension to the Jones Act waiver, which requires shipping between U.S. ports to be conducted by American ships, in an effort to lower fuel prices.
“New data compiled since the initial waiver was issued revealed that significantly more supply was able to reach U.S. ports faster,” White House assistant press secretary Taylor Rogers said in a post on social platform X.
The move comes as fuel prices have spiked amid the Iran war and the closure of the Strait of Hormuz, which normally sees roughly 20 percent of the world’s oil passing through it.
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