Why it's so hard for world leaders to bring down oil and gasoline prices

From waiving the Jones Act to rerouting oil through the Red Sea, governments are doing their best to make up for the crisis in the Strait of Hormuz, but prices are still rising.

Why it's so hard for world leaders to bring down oil and gasoline prices
Gas and diesel prices are displayed at a Pilot Travel Center on March 17, 2026 in Pyote, Texas.

From waiving the Jones Act to rerouting oil through the Red Sea, governments are doing their best to make up for the crisis in the Strait of Hormuz, but prices are still rising.

(Image credit: Brandon Bell)

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