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  • Liann Walborsky
    Liann Walborsky
    » Communications Manager, Tech CU
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    rising gas prices - is there a silver lining?

    March 2, 2012 Posted by: Liann Walborsky

    It’s in the news daily and has now become an election year issue. I’m referring, of course, to gas prices. Sure, it’s painful to fill up your tank and see those numbers creeping upwards. Gas prices have increased around 8% since the beginning of the year, to a national average of about $3.59 a gallon. Here in California, we’re about a dollar more than even that. Despite the angst, could there possibly be some positive aspects to this increase? Well, according to a recent Smart Money article, yes.  

    1. Make a smart investment. Ever thought about adding a gas or oil company to your investment portfolio? With increasing prices at the pump, who do you think is posting record earnings and growth? With production expected to grow 20% over the next ten years and no end to consumers wanting oil and gas, why not consider benefiting from a good investment of your own? Sure there’s always talk about alternative fuels, but at the end of the day, this particular resource is not going away.  
    2. Great time to buy a big car. Always wanted a Denali? Dream of driving a Lincoln Navigator? These are big cars with big demands at the pump. As gas prices rise, dealers will be much more willing to make deals—especially as demand increases for hybrids and smaller cars. If you have been pining for an SUV, now is the time to head to the lot and negotiate a good deal. Big car manufacturers like Ford and GM must move their inventory and know they are facing an uphill battle. These auto prices will not be going up anytime soon.  
    3. Shop from home. Love going to the mall but hate the crowds? Stay home and shop online. You’ll save loads of time and money in parking and driving, and, there are often better prices online. If you’re worried about shipping costs, there are ways around those as well. Many online retailers offer special “no shipping fee” dates. Sites like Amazon have Amazon Prime—which for a flat annual fee of $79, offers free two-day shipping.  
    4. Don’t travel far for your next vacation. Find something great for your next family vacation that does not involve getting on an airplane. Rising fuel prices mean everything costs more—driving, flying, and even renting a car. Learn about your local area—every state has multiple online resources to help you plan a vacation closer to home. It may take some creativity but won’t be any less fun.  
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