Thinking of trading in your SUV?

November 16, 2005

According to St. Louis Reserve President William Poole, oil and gas prices will continue to stay high.

What it means: 

Although gas prices have declined since their high right after Katrina, they will not return to levels we saw last year on a long term basis.

Action steps: 

If you are thinking of buying a new car, trade in that SUV for a gas efficient economy model..or a Prius, if you can get one. Do this while the gas prices are still low, and everyone else thinks things will get better permanently.