Gas prices are still WAY higher than most people would like. But the good news is the average price has fallen almost every day since the recent peak in mid-September.
Why is it falling? Some of it is seasonal since summer travel demand is over. Part of it is because many states are switching to their winter blend of gas, which is slightly cheaper. Also, the high prices over the last few months eroded some demand as people tried to cut back on driving where they could.
Will gas prices keep going down? For the sake of Californians (and some other states) who are tired of staring at triple digits on the pump, let’s hope so! There are “experts” that think gas will spike up heading into next year and others who think prices will continue to plummet. If you tune into just about any cable news network, you can gleefully watch them debate each other about who can predict the future better.
Like most things in the future, it’s impossible to know what will happen. Rather than focusing on that, focus on what is in your control. Find ways to increase your income wherever possible. Invest as much of it as you can in low cost index funds. And let time work on your side to build wealth regardless of what is happening in the world around you!
As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.
-Vivi & Shane
