60-day waiver of the Jones Act shipping rules announced by President Trump aims to ease rising gasoline costs triggered by Middle East tensions. The move allows foreign tankers to transport oil and other goods between US ports, potentially reducing costs by about 5 cents per gallon, though analysts expect minimal impact on pump prices that have jumped 29% since February. The Jones Act, requiring US-built and crewed ships, has been waived before during crises like Hurricane Maria.

Foreign vessels cost $50,000 less daily than American tankers, according to shipping experts. While this lowers transportation costs, the largest component of gasoline prices remains the volatile cost of oil, which has surged 40% since US strikes on Iran began. Critics argue the law burdens consumers and businesses, particularly in remote areas reliant on US shipping, while proponents cite national security needs for a domestic fleet.

The waiver comes alongside a planned release of 172 million barrels from US strategic reserves, though crude prices rose despite the move. The administration frames the Jones Act suspension as a temporary measure to mitigate short-term market disruptions amid the ongoing conflict, acknowledging its limited effect on long-term energy costs.