Rising Oil Prices Prompt White House To Review Shipping Law

The Trump administration is considering temporarily waiving the Jones Act as fuel prices climb during the ongoing Iran war, reported by CBS News.

White House spokeswoman Karoline Leavitt said the administration may suspend the century old shipping rule to ensure that energy supplies and agricultural goods continue flowing to U.S. ports. According to the statement, the decision has not yet been finalized.

The Trump administration is prepared to waive the Jones Act to loosen shipping rules as the Iran war continues, the White House said Thursday. https://t.co/OneIr92ric

— CBS News (@CBSNews) March 12, 2026

The Jones Act requires goods shipped between U.S. ports to be carried on vessels that are American built, flagged, and crewed. Waiving the law would allow foreign ships to transport fuel between U.S. ports, potentially easing supply shortages and lowering prices.

Energy markets have been volatile since the United States and Israel launched strikes on Iran on February 28. Brent crude briefly rose above $100 per barrel, while West Texas Intermediate reached about $95, according to FactSet.

Gas prices have also climbed to $3.60 per gallon, roughly 60 cents higher than before the conflict, according to AAA.

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tippinsightsTIPP Staff