Rising Gas Prices

Have you noticed the jump in gasoline prices?

Industry analysts say prices are up due to higher crude oil costs. GasBuddy.com, says it’s a supply and demand problem. Now that people are moving about, demand has increased. The impact is felt across the economy. Increased transportation costs affect retail prices, public transportation, and the sales of certain vehicles. Farmers require diesel fuel to run machinery and many of their fertilizers contain oil byproducts. Gasoline prices impact our spending and consumer confidence. A U.S. Gallup poll in August of 2020 revealed that one’s view of the economy appears to be inversely correlated to the price of gasoline. Increased gas prices create pessimism about the economy.

Now here are some ways to deal with rising prices. Properly inflate your tires to increase efficiency. Avoid speeding, rapid acceleration, and rapid braking which lower fuel efficiency. Consult GasBuddy for the cheapest gas in your area.  When possible, carpool, drive fuel-efficient cars, take public transportation, walk, or ride a bike. In addition, plan your outings to reduce drive time and mileage. Remove any unnecessary weight in the vehicle and make sure your gas cap seals properly. Skip premium gas and use grocery store loyalty cards for discounts. Are you vacationing soon? Budget for increased gasoline prices so you can enjoy your time to the fullest!                

Now if you’re overloaded with credit card debt, I recommend Christian Credit Counselors. They’ll create a debt management plan that works. For more information call the Crown Helpline: 800-722-1976 or visit online at crown.org/ccc.