Jonathan Dane, Founder & CIO at Defiant Capital Group, was quoted in CNBC this week as gas prices top $4 per gallon nationwide, up more than 30% since the U.S.-Iran war began in late February.
The CNBC article examines how Iran’s closure of the Strait of Hormuz has disrupted global oil supply and pushed gas prices to multi-year highs. With the national average now above $4 per gallon, CNBC surveyed financial advisors across the country on how clients should respond, and Jonathan was among those featured. (See our recent commentary on oil prices and the Strait of Hormuz: Leads, Lags and the 4:10 to Yuma.)
According to Jonathan, the most practical move for consumers navigating rising gas prices is making sure their spending works for them: “If you’re going to spend more at the pump, make sure you’re earning on it. The right travel or cash back card can turn a frustrating line item into meaningful rewards.”
For higher earners, elevated gas prices may be more of a headline than a hardship, but for middle and lower earners, they represent a real line item that affects daily financial stability. Whether the right move is maximizing rewards, trimming discretionary spending, or revisiting your budget, the key is being intentional rather than reactive.
For a deeper look at how we help clients navigate market volatility and make smart financial decisions in uncertain environments, see our investment management approach.
Read the full CNBC article here: How to Navigate Rising Gas Prices, According to Financial Advisors
