As the economy teeters, there’s one silver lining: The high gas prices we’ve become accustomed to paying are almost certainly going away for awhile.
We’ve been in a bull market for commodities of all different kinds. But gold and silver in particular, though they had great run-ups in value recently, have hit drops in value in just the last few weeks. (But there’s no telling if that’s just a temporary ebb before further run-ups.)
For now, the cost of gas is going down around the country. Depending on where you are, many places are back in the $2 range. I filled up over the weekend and paid $3.21/gallon, which was the cheapest I’d paid in a while. (I fill up very infrequently because I have a plug-in hybrid that routinely gets 90 or more miles to the gallon.)
But better fuel economy is coming for all. I was reading in The Detroit News that the new Kia Rio will come with hybrid-type features, including “start-stop” technology — which turns off an idling car and then turns it back on when you take your foot off the brake. They’re not calling the Rio a “hybrid,” though it will be the first $14,000 vehicle to really boost your fuel economy.
Likewise, GM has done a great job with hybrid-type features like EcoBoost technology, an engine design that allows small engines to give great power and great fuel economy. Cars will EcoBoost can get city miles in the upper 20s and highway miles in the upper 30s in good sized vehicles. Ditto for Buick and Ford.
As you find yourself in your natural buying cycle, I want you to go as fuel-efficient as possible when you get another car. I want the price of fuel to become less relevant in your life over time.