The Trump administration has extended a waiver allowing Russian oil sales for another 30 days as fuel prices surge due to the Iran conflict. Treasury Secretary Scott Bessent said the license aims to stabilize crude markets and help energy-vulnerable nations access oil stranded at sea.

Since February's Iran escalation, Brent crude jumped more than half to over $110 a barrel, pushing US gasoline up 51% to $4.52 per gallon. Diesel prices approached $5.63 a gallon, nearing record highs. A Brown University study found the conflict has cost Americans over $40 billion in additional fuel expenses.

Democratic senators Jeanne Shaheen and Elizabeth Warren condemned the extension, arguing it boosts Putin's war chest while failing to reduce costs for American families. The move follows record releases from the Strategic Petroleum Reserve and proposed federal fuel tax suspensions, though these measures have shown limited success in curbing voter frustration over living costs.

Despite previous indications that no extensions would occur, Bessent said the waiver helps reroute supply to nations most in need while limiting China's ability to stockpile discounted Russian oil. The policy highlights Washington's struggle to balance energy security with geopolitical pressure on Moscow.