Do Low Gas Prices Mean We Should Drive Bigger Cars?
While a large majority of America is experiencing arctic temperatures, gas prices remain relatively low across the country. As a result of these low prices, the demand for trucks and large SUVs is once again on the rise, as drivers realize they can drive their gas guzzlers and save money, too. But even though trucks and SUVs have gotten more efficient in recent years, there’s no guarantee that gas prices will remain this low indefinitely. This begs the question: should we be celebrating low gas prices by buying bigger cars, or sticking with more economical options that we’ll be able to drive long-term?
In an interview with The Detroit News on Tuesday, President Obama cautioned consumers against buying larger, less efficient cars just because of low gas prices. “I would strongly advise American consumers to continue to think about how you save money at the pump because it is good for the environment, it’s good for family pocketbooks and if you go back to old habits and suddenly gas is back at $3.50, you are going to not be real happy,” the president commented while visiting the Great Lakes State.
Instead, Obama encourages drivers to invest in smaller, more fuel-efficient vehicles that will allow them to save money at the pump in the short-term, and not have to worry too much about gas prices rising in the long run.
Whether or not consumers will take heed of the president’s advice remains to be seen. But with the crossover segment having experienced such growth in the last couple of years, it’s likely that many consumers will continue choosing the best of both worlds—vehicles with the utility of SUVs coupled with the efficiency of cars.
News Source: The Detroit News