'White House Set To Extend Jones Act Waiver As Trump Hunts For Cheaper Gasoline' - Reuters Exclusive
Key takeaways
- The White House is likely to extend the Jones Act waiver to try and hold down gasoline prices, but the impact is expected to be minimal.
- The current waiver is set to expire on August 16.
- The waiver has been used nearly 200 times over four and a half months through the end of July, according to U.S. government data.
- Gasoline prices are currently averaging over $4 a gallon in the U.S.
What happened
The White House is expected to extend a waiver of the Jones Act, allowing for increased shipping flexibility and reduced transport bottlenecks to lower gas prices.
Why it matters
The Jones Act waiver is one of the few tools the White House has to hold down gasoline prices, which are currently averaging over $4 a gallon in the U.S. ahead of the midterm elections in November.
Short-term and longer-term
Short-term. The Jones Act waiver extension is a tactical move by the White House to address the current gasoline price crisis, but its effectiveness is limited by the constraints of the global oil market.
Longer-term. The Jones Act waiver extension is a short-term measure to address the current gasoline price crisis, but its long-term implications are uncertain.