An Ipsos poll conducted for Toyota Canada spells bad news for small towns and cities dependent on a robust tourist season to see them through. Rising gas prices is prompting almost half of Ontarians to reconsider that much-loved tradition, a summer road trip.
The survey found that 44 per cent of Ontarians are very likely or somewhat likely to take a vacation involving extended driving this summer and that 79 per cent of Ontarians include estimated fuel costs when budgeting for a road trip.
But in Ontario, gas prices this summer are lower than what they were last year, with some fluctuations possible in the near future, according to analysts.
Experts believe that gas prices could go down as demands falls or as summer begins to come to an end.
Some of the factors affecting gas prices in Ontario are things like the US-China trade fight and the escalation of differences with Iran.
Some predict a global recession as a result of a drop in demand for oil and gas.
Brexit is another factor that could influence fuel prices.
And of course, we are soon to enter the hurricane season that could hit some refineries in the Gulf of Mexico and spark a hike in prices.
Meanwhile gas stations in major Ontario cities have been discounting their retail margins by at least five cents per litre to increase business. -CINEWS