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Trump Weighs Options to Combat Soaring Gas Prices

3/13/2026

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Summary

Story summary

U.S. President Donald Trump is exploring options to mitigate rising gas prices amid the Iran crisis.
Oil prices have surged over 20% since February 28, intensifying supply concerns.
The administration is considering a temporary waiver of the Jones Act to permit foreign tankers to move fuel between U.S. ports.
Trump has claimed that high oil prices could benefit the U.S. economy, asserting the nation stands to profit as largest producer.

History

Historical Context

The Jones Act, enacted in 1920, mandates that goods transported between U.S. ports be carried on American vessels, impacting shipping costs. Historically, waivers have been granted during national emergencies, such as Hurricane Katrina in 2005. President Trump's consideration of waiving the act amid rising oil prices reflects ongoing debates about energy independence and economic strategy in response to international pressures.

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Story summary

U.S. President Donald Trump is exploring options to mitigate rising gas prices amid the Iran crisis.
Oil prices have surged over 20% since February 28, intensifying supply concerns.
The administration is considering a temporary waiver of the Jones Act to permit foreign tankers to move fuel between U.S. ports.
Trump has claimed that high oil prices could benefit the U.S. economy, asserting the nation stands to profit as largest producer.

1 / 2