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Jones Act Lift Would Save Eastern Drivers a Dime, JPMorgan Says

June 17, 2022, 3:56 PM

Waiving a century-old shipping law to let foreign-flagged vessels transport fuel between US ports -- a favorite talking point of a US refinery sector trying to get the White House off its back -- would only save East Coast drivers about 10 cents a gallon at the pump, JPMorgan said.

A potential waiver of the Jones Act is one of several tools the Biden Administration is weighing to reduce the effects of record energy costs for Americans. However, like most moves being considered by lawmakers, it’s unlikely to bring sustained relief.

A 10 cent per gallon cut would be about ...