President Donald Trump predicted falling gas prices during his Asia tour, boasting about reaching $2 per gallon soon. The White House confirmed gas prices have hit $2 in Kansas, Oklahoma, Texas, and Colorado, expanding to Missouri, Tennessee, and South Dakota. However, most states still have prices hovering around $3 per gallon.

While Trump claimed credit for lowering gas prices, experts attribute the drop to increased production from OPEC+ nations. The President’s “drill baby drill” policy has resulted in slower oil production growth compared to his predecessor. The number of oil rigs in the U.S. has decreased, leading to layoffs in major oil and gas companies.

Despite the potential relief from falling gas prices, Trump’s fluctuating tariff policies may impact oil and gas projects in the U.S., causing delays and increased costs. Lower gas prices may not have the same economic impact as in the past, as energy prices, including electricity and natural gas, have risen in recent years.

To manage expenses effectively, tracking daily spending and cutting unnecessary costs can help. Apps like Rocket Money can assist in monitoring subscriptions and bills to redirect savings into a retirement fund. Additionally, shopping around for better insurance rates and prioritizing emergency savings can provide financial security.

For higher returns on savings, consider online banks offering high-yield accounts with interest rates up to 4.5%. Comparing different savings account options can help maximize your savings. Prioritizing financial stability through proactive money management strategies is essential for long-term financial health.

Read more at Yahoo Finance: Gas prices drop to below $2 per gallon in 9 states, and Trump says it’s ‘bigger than a tax cut.’ Is your state covered?