U.S. Jones Act Waiver Extension Proposed to Lower Oil Prices

U.S. government plans to extend Jones Act waiver before Aug 16 expiry to ease fuel supply, despite analyst doubts on price impact and internal political opposition.

Woofun AI reports that the U.S. government intends to extend the temporary Jones Act waiver in the coming days to alleviate domestic fuel supply constraints and reduce gasoline prices. The current waiver, which expires on August 16th, has been utilized nearly 200 times over the past four and a half months, marking the longest duration in the Act's history. Energy Secretary Chris Wright noted the measure has lowered costs in California and parts of the East Coast, though analysts suggest the impact may be limited to a few cents per gallon.

Internal disagreement persists regarding the waiver's scope, with some Republican lawmakers and maritime groups warning that loosening regulations could undermine U.S. shipping capabilities and national security.

Meanwhile, President Trump dismissed recent polls showing approval ratings between 32% and 34% as "fake polls," asserting his true standing is the "best ever recorded." Rising gasoline prices, now exceeding $4 per gallon due to Iran-related energy transport disruptions, have intensified pressure on the administration to lower consumer fuel costs.