Jake was filling the tank the other day and we both said it. Why does it still cost this much?
You hear the oil is flowing again. So why isn't the price coming down?
Start with Iran. We've squeezed them about dry. That's good news, because it pushes them toward a deal. It's also the danger. A cornered animal has less to lose.
Then there's no cushion. Iran's barrels are already off the market. If one more supplier goes down, there's nothing left to fill the hole, and the price jumps. That's why every headline out of the Middle East moves the pump.
And the barrel is only part of what you pay. Refining, trucking and taxes are the rest, and none of that gets cheaper overnight.
So what do you do? You can't control the pump. You can control how exposed you are. Do you have the cash you need for the next couple of years? Would your plan hold up if oil spiked again?
Part of your money should be protected when things go wrong, and the rest should keep working for you. That's what lets you sleep at night.
Skip and I talk through all of it in this episode. Give it a listen, and if you want to see how your plan holds up, come sit down with us.
4 Seasons Podcast #42 – Why Are Gas Prices Still So High? Oil, Iran and Your Portfolio
Keep the Faith. God Bless America.
Jeff Bingham