Oil Prices And Your Money

Oil Prices And Your Money

By Dave @ Accidental Fire · Published March 15, 2022

Oil prices have soared in recent weeks putting gas prices at near record highs in the U.S.  America is a very car-obsessed and car-dependent country so gas prices are what’s in the news.  But don’t think that rising oil prices will only affect you at the gas pump.  Tons of things we all use every day as this article details are literally either made of oil or depend heavily on oil for their manufacturing.

But it all comes back to gas for most.  Despite the fact that over 40,000 Americans die by car every year – well over 100 people per day – cars are worshipped by a large portion of the population and permeate all aspects of our popular culture.

The average American drives a jaw-dropping 14,000 miles per year, so gas prices are what’s on people’s mind because they burn a shit-ton of it everyday.

Being that I barely drive and don’t burn much gas myself I wouldn’t consider myself the best person to dish out advice about saving money on gas, aside from the obvious advice to drive less and walk or bike more.  But I blog to help people with money and I’m here to contribute.

Some Tools

This AAA site with an interactive map does a good job of showing the general picture of gas prices across America including state averages and the national average.

If you are taking any road trips or if you got on the RV bandwagon during covid like thousands of others, you need to be aware of price variances by geography.  RV’s and sprinter vans get horrible gas mileage so filling up strategically in cheaper places can literally save you hundreds of dollars.

Another great tool if you drive a lot is the app Gasbuddy.  The app searches for the cheapest prices near you and also has it’s own gas card and reward system.  Full disclosure – I’ve never used it and am not affiliated with them in any way but online reviews seem mostly positive.

As you probably know most of the major oil companies have their own credit cards and reward systems.  Again, being that I ride my bike way more than I drive I’m not the person to recommend any in particular but if you spend a lot on gas it’s probably in your best interest to check out sites like Nerdwallet who compare those sorts of things.

And if you happen to be in the market to buy a car, this list from Car & Driver of the most fuel efficient gas burners might be of help.  Or you could get a hybrid or fully electric vehicle.  Regardless of what you get, remember that savvy financial people buy used.

Third Order Effects

Now onto the more difficult truths.  Most things are going to get more expensive.  Inflation in America crested 7.5% recently and many “experts” had already predicted it to rise over 8% this year – before the war in Ukraine started and the oil price spike.

To continue reading, please go to the original article here:

 https://accidentalfire.com/2022/03/15/oil-prices-and-your-money/