Low Gas Prices Affecting Businesses - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

Low Gas Prices Affecting Businesses

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Car dealerships, like Lithia, even have specials like "truck month" coming up, but that is not making people wait. Car dealerships, like Lithia, even have specials like "truck month" coming up, but that is not making people wait.
KENNEWICK, WA- Gas prices are the lowest we have seen in years. On Wednesday, Costco in Kennewick has fuel at $1.72 a gallon, and in Yakima at Yakima Avenue Quick Stop it is $1.79.

Car dealerships and investments are seeing some changes with prices that low. "Oil industries are down about 22% but the overall market is down roughly 2% since the first of the year,"  explained T.J. Willingham, a Financial Advisor at Edward Jones.

Down two percent, but an extra $25.00 to $50.00 in your pocket. Now what about your investments?

"Oil prices can certainly affect 401k's, as far as the overall general market. 401k's are generally made up of mutual funds and they are down roughly 2% since the first of the year, since the S&P 500 is down," said Willingham.

The 401k's diversity of funds generally give you enough protection.

"If you need to reallocate, it's always a good idea. But, not a reason to really make any major adjustments,"  explained Willingham.

Although low gas prices keep us from hurting at the pump, have you ever thought about how it affects car purchases?

Cisco Rios at Lithia Chrysler Jeep Dodge in Kennewick said,  "A lot of our truck sales have been going up. People haven't been so concerned lately as far as stepping into a hemi, or the larger V8 engines. Even our sports vehicles as well."

Car dealerships, like Lithia, even have specials like "truck month" coming up, but that is not making people wait.

"I've even had people transition from diesel back to gas for that reason, seeing that gas prices go down," explained Rios.

Edward Jones predicts that oil prices will make a steady incline through this year, but for now it is a great time to enjoy the extra money.

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