Canadian vacationers opt for domestic trips as gas prices surge

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Gas prices back on the rise as most Canadian vacationers make domestic plans



“Gas prices are on the rise in Canada, just in time for the summer driving season. As Canadians gear up for road trips and vacations, they might be facing some sticker shock at the pumps. The increase in prices can be attributed to challenges in the refining industry, which are causing costs to go up and capacity to shrink.

Rising Gas Prices Across Canada

According to Kalibrate, the average cost per litre of regular fuel in cities nationwide has gone up by 1.6 cents to $1.697 between May 16 and May 23. Cities like Edmonton and Calgary have seen the biggest gains, with prices jumping by 11.2 cents per litre and 10 cents per litre, respectively. On the other hand, Sudbury, Ont. saw a decrease of 8.7 cents per litre.

Experts in the industry, such as Andy Lipow of Lipow Oil Associates, have pointed out that aging refineries are in need of costly equipment replacements. This, along with other factors, is contributing to the rise in gas prices that consumers are now facing.

Vacation Plans Amid Rising Costs

Despite the higher living costs, a recent Yahoo/Maru Public Opinion poll found that more than half of respondents are still planning a vacation this summer. Of those planning a getaway, 67 per cent are choosing to travel within Canada. However, for the 47 per cent who have decided to skip a summer vacation this year, the main reasons cited were higher costs and affordability concerns.

The Bottom Line

As gas prices continue to fluctuate and rise, Canadian consumers will need to carefully consider their travel plans and budget accordingly. Whether it’s opting for a staycation or finding ways to save on transportation costs, planning ahead can help mitigate the impact of these higher gas prices.

It’s important to stay informed about gas price trends and make smart choices that align with your financial goals and priorities. By keeping an eye on the market and adapting your plans accordingly, you can navigate these uncertain times with confidence and make the most of your summer adventures.”



Reference

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