Washington, March 13 (NationPress) In light of soaring fuel prices and ongoing disruptions in international shipping routes, the Biden administration is contemplating a temporary exemption from the longstanding Jones Act. This would enable additional vessels to transport energy and agricultural goods to ports within the United States.

Press Secretary Karoline Leavitt has confirmed that this significant decision is currently being evaluated but remains unconfirmed.

“To bolster national defense, the White House is looking into a limited-term waiver of the Jones Act to ensure that essential energy products and agricultural supplies reach US ports without hindrance,” Leavitt informed IANS.

“This measure is still under review,” she clarified when asked about the specifics.

Originally established in 1920, the Jones Act mandates that any goods shipped between US ports must be transported on vessels that are American-built, owned, and crewed. A temporary waiver would permit foreign-flagged vessels to carry cargo such as oil and other energy resources among US ports.

Officials emphasized that any waiver under consideration would be short-lived and specifically targeted.

“The Administration assures that this will not affect American shipbuilding,” another senior official from the Trump administration stated in response to inquiries.

The Biden administration is deliberating this action amidst global shipping challenges stemming from the conflict with Iran, which have hindered cargo movement and increased energy costs. Recent weeks have seen a significant rise in gas prices across the United States, with the national average reaching nearly $3.60 per gallon, according to AAA—a spike of over 22 percent in just one month, as reported by The Washington Post.

Disruptions in shipping are partially linked to tensions in the Strait of Hormuz, a vital channel for global oil transport. Iran's newly appointed supreme leader, Ayatollah Mojtaba Khamenei, has indicated that Tehran will continue its retaliatory measures, potentially keeping this strategic waterway closed.

This uncertainty has unsettled global energy markets, with The Wall Street Journal noting that oil prices have soared close to $100 per barrel due to fears that the conflict could extend supply route disruptions and exacerbate volatility in energy markets.

The increase in oil prices has also negatively impacted financial markets. US stock prices took a sharp downturn as investors expressed concerns over prolonged disruptions to global energy supplies and the wider economic ramifications of the situation.

Nevertheless, analysts suggest that waiving the Jones Act may only slightly influence gasoline prices.

“Regardless of your opinions on the Jones Act—and I know many have them—the effect on retail gas prices would be minimal, less than 2 cents a gallon,” stated Alex Jacquez, chief of policy and advocacy at the Groundwork Collaborative, in a post on X. “Insignificant.”