Trump extends shipping law waiver for 90 days amid Iran war fuel price rise

US President Donald Trump has extended by 90 days a waiver of a shipping law so that foreign-flagged ships can transport oil and other commodities between US ports, a White House official said on Friday. The administration would extend the waiver of the more than 100-year-old Jones Act, Reuters reported, citing industry sources. The administration issued a blanket waiver in March, a month after the US launched its war on Iran, in an effort to lower oil and fuel prices. When it extended the waiver in August, it said it would decide cases on a case-by-case basis, a condition that also applies to the latest extension. The Jones Act requires cargo moving between US ports to be carried on ships built in the US, owned by US companies, and crewed by American workers. The waiver aims to lower gasoline, diesel, and fertiliser prices, which have risen because of the war. Since March, an additional 90 million barrels of petroleum, mostly refined products, have been shipped between US ports under the waiver, the White House said.