Gas prices get a lot of financial headlines because most of us HAVE to spend money on it and the price jumps around a lot. It’s fun to blame or credit whoever is in the White House for what is happening at the gas pump, but you really have to squint your eyes at this chart to try to decide if the blue team or the red team is doing better. The reality is, gas prices have very little to do with who is sitting in the Oval Office, and everything to do with the thousands of other factors at play in the economy.
What do YOU do about this? Do what you can control! Driving a more fuel efficient car, biking to work, carpooling, or driving an EV are some ways to reduce your own pain at the pump.
I’ve been driving an electric car for the last year and I love it so much, I actually hate having to drive a gas car when renting or driving a friend’s car. I never go to the gas pump, wake up with a full battery every morning, and get 0-60 in 3.1 seconds. The car INSTANTLY responds when I press the gas pedal (is it even called the gas pedal?! the electric pedal? the velocitator?), doesn’t care how much weight is in the car or if we’re going uphill and it charges itself on the downhills! Even road trips have been easy. I’ve driven to LA and back (from San Diego) without charging. For longer trips, hotels generally have EV charging spots now so you still wake up full. Only a few times I’ve even had to go to a supercharger. For those stops, I go grab some food and the car is done charging before I’m done eating.
How did this turn into a rant about electric cars? I don’t know. We’re talking about gas and it just seemed to happen. Anyway, focus on what you can control and try not to be fall too deep into a partisan echo chamber that credits your team and blames the other team for everything that happens in the world.
As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.
-Jeremy
