U.S. President Donald Trump is considering extending the Jones Act waiver as gasoline prices exceed $4 per gallon, posing a political risk ahead of the elections. Trump is also pressuring ExxonMobil and Chevron over their soaring profits and has initiated an investigation into possible price gouging.
The Jones Act, which mandates that cargo transported between U.S. ports must be carried on American ships, has been waived 40 times in its 105-year history. However, as shown by the previous waiver, it had little impact on gasoline prices.
The Trump administration, seeking to lower gasoline prices, is also considering modernization and changes, but faces resistance from the oil industry and politicians.
