Small Refinery Exemptions Will Help Drivers at the Pump

Nick Loris writes for The National Interest about solutions to ease fuel costs amid the war in Iran.

Granting small refinery exemptions would ease fuel costs and protect US refining capacity, preventing further price increases during the Iran War. 

The unprecedented supply disruption tied to the Strait of Hormuz has delivered the most severe energy shock in decades. The national average for a gallon of gas has surpassed $4 per gallon, the first time that’s happened in over four years. Drivers in some parts of the country are paying closer to $5 per gallon, and California is inching closer to $6. 

With seemingly no end to the Iran War in sight, the Trump administration has several actions to soften the economic blow, including waiving the Jones Act and releasing 172 million barrels of oil from the Strategic Petroleum Reserve. One sensible solution to help consumers is to grant exemptions for the small refineries that are critical to US energy security and affordability. 

Read more in the National Interest here.