According to the latest Ipsos poll conducted for Toyota Canada, just under half of Ontarians surveyed state that they’re less likely to take a summer road trip, thanks to the rising costs of gas province-wide.
That same survey found that 44 percent of Ontarians are “very likely” or “somewhat likely” to take a “vacation involving extended driving” this summer, and nearly 80 percent of those surveyed would estimate fuel costs for their coming road trip.
This year’s prices are definitely high, but they’re still a drop from last year’s prices, with some outliers.
“It doesn’t look like we’re going to have a very expensive summer, certainly not one that rivalled what we saw last year,” said Dan McTeague, an analyst at GasPriceWizard.com to Global News.
“I can look maybe two weeks ahead and say we’re going to be within three cents of where we are, up or down.”
According to Patrick DeHaan, petroleum analyst at GasBuddy.com, gas prices have actually dropped from May 3 to about June 16. “They’ve been up and down, but certainly they stand lower than where they were just a couple months ago,” he added.
DeHaan has even stated that gas prices would “probably” stay down between $1.15 to $1.25 a litre for the rest of the summer, “barring any unpredictable events.”
DeHaan went on to say that the biggest issues affecting oil prices for Ontario thus far have been the rising trade tensions between the U.S. and China, as well as the escalating tensions between the U.S. and Iran.
Though Ontario’s oil prices are still high, the province’s complaints fall on deaf ears to those out west, and out east. Both British Columbia and Newfoundland & Labrador are currently experiencing gas prices that reach up to nearly $1.40 per litre and over 1.30 per litre, respectively.
The demand for gas goes up in the summer, meaning the price goes up as well, says DeHaan.
Gas prices tend to be higher in the summer, mainly because demand is higher and much of the country uses more expensive gas during that time, DeHaan said.
“You could say that downward demand really begins kind of the first week in August,” he added. “Most of the road trips, most of the vacations that we see are in July.”
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