As Gas Prices Top $4, Advisors Offer Tips to 'Turn Frustration into Rewards'

Financial planners share strategies for clients to manage rising fuel costs without sacrificing financial stability.

Mar. 31, 2026 at 7:53pm

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A minimalist abstract illustration featuring overlapping geometric shapes in navy, yellow, and grey, conceptually representing the economic impact and consumer strategies around rising fuel costs.As gas prices soar, financial advisors guide clients on turning a frustrating budget line item into meaningful rewards.

With gas prices surging over 30% since the start of the war in Iran, financial advisors are guiding clients on how to navigate the affordability crisis. While higher-earners may see gas prices as a headline, lower and middle-income Americans are facing tough choices to cover the increased costs. Advisors recommend using rewards credit cards, loyalty programs, and small budget adjustments to help offset the financial strain of elevated fuel prices.

Why it matters

The ongoing disruption to global oil supply chains due to the conflict in Iran is causing significant economic strain for many American households already grappling with high inflation. As gas prices reach over $4 per gallon nationwide, financial planners are working to help clients, especially those with lower and middle incomes, find ways to manage the rising fuel costs without jeopardizing their overall financial stability.

The details

The Strait of Hormuz, which Iran has effectively blocked since the start of the war, is a critical global oil chokepoint, handling 31% of worldwide crude oil flows. This supply chain disruption has driven gas prices up more than 30% since late February. While higher-earning clients may see the price hikes as a headline, advisors say lower and middle-income Americans are facing tough choices to cover the increased costs of commuting and other driving needs. Strategies recommended by planners include using rewards credit cards, taking advantage of gas station loyalty programs, and making small budget trims to discretionary spending to offset the financial strain.

  • Gas prices have spiked more than 30% since Feb. 28, when the U.S. and Israel started the war with Iran.
  • The national average price per gallon is over $4 as of March 31, according to AAA.

The players

Chris Jackson

A certified financial planner based in Charleston, South Carolina.

Jonathan Dane

A CFP and chartered financial analyst in Warrendale, Pennsylvania.

Alex Bridges

A Houston-based CFP.

Ryan McGonigal

An investment advisor based in Rockville, Maryland.

Sweta Bhargav

A CFP based in Princeton, New Jersey.

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What they’re saying

“For higher earners, rising gas prices are a headline. For lower and middle earners, they're a line item that directly affects financial stability and daily life.”

— Chris Jackson, certified financial planner

“The one practical move we're recommending across the board: 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.”

— Jonathan Dane, CFP and chartered financial analyst

“If used strategically, those points can meaningfully reduce the price per gallon.”

— Alex Bridges, CFP

“Start trimming the 'nice-to-haves' like convenience store runs, frequent DoorDash orders and unnecessary Amazon orders until gas prices begin to normalize.”

— Ryan McGonigal, investment advisor

“These small steps add up over time.”

— Sweta Bhargav, CFP

What’s next

Advisors say they will continue monitoring the situation and providing updated guidance to clients as the war in Iran and its impact on global oil markets evolves.

The takeaway

While higher gas prices may be a mere headline for some, they pose a significant financial strain for lower and middle-income Americans already grappling with elevated costs of living. By leveraging rewards programs, making small budget adjustments, and maintaining fuel-efficient driving habits, consumers can find ways to offset the impact of surging fuel costs without sacrificing financial stability.