I'm Jackie DeAngelis and this is the Fox Business Rundown.

Friday, April 24th, 2026.

President Trump is taking action to offer Americans relief on energy prices even as he warns that gas prices may remain elevated for some time.

The reason why gasoline prices aren't at $5 or $6 a gallon,

it's because Donald Trump and his cabinet are some of the smartest people in the world

and actually have experience in the energy markets.

They get it.

The White House is announcing a 90-day extension to the Jones Act, a 1920 federal law that eases

restrictions on transporting oil and fuel by sea between U.S. ports. This comes as negotiations

between the U.S. and Iran have yet to produce an agreement. Few vessels are crossing the

Strait of Ormuz as the U.S. Navy maintains a presence in the

crucial choke point where 20% of the world's oil passes through. Since the start of Operation

Epic Fury, global oil prices have risen. President Trump told Americans he is in no rush to make a peace

deal with Tehran, which could mean higher prices at the pump for a little while.

However, he also says the conflict has had far less impact on gas prices and the stock market

than he originally anticipated. But how will the extension of the Jones Act impact prices here at home

and how quickly will they drop once a deal with Iran is reached.

I'll tell you what, you know, you say the market's been well-behaved. I think it's been misbehaved.

Phil Flynn is a senior market analyst with the Price Futures Group and a Fox Business Network contributor.

It's been saying how you define behaved. I mean, really, if you look at it, it is far below where everybody

thought it might be. And a lot of people are complaining, hey, the prices aren't reflecting

real risk and they're being manipulated. But if you look at the church, you know, the highest

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