Here's what the Trump administration is doing to lower oil and gas prices. Is it working?

TL;DR

The average price of gasoline in the U.S. is nearing $4 a gallon due to the Iran war.
Reopening the Strait of Hormuz, which handles 20% of global oil and gas, is considered the most effective solution.
The Trump administration is tapping the Strategic Petroleum Reserve, releasing 172 million barrels over 120 days.
A 60-day waiver of the Jones Act allows foreign ships to transport fuel between U.S. ports.
The U.S. is temporarily approving the purchase of Russian oil already at sea.
Experts believe these measures are too small to counteract the impact of reduced global supply.
The administration is considering further actions, including potentially 'unsanctioning' Iranian oil and waiving regulations on E15 gas blend.
U.S. allies have expressed readiness to contribute to efforts to ensure safe passage through the Strait of Hormuz.

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