Fuel costs forcing Canadians to scale back summer plans: TD survey

Canadians are cooling off their summer spending as cost pressures continue to heat up, according to a new survey by TD Bank.

The survey reveals that more than one in three Canadians plan to spend less this summer, with rising fuel costs forcing travellers to scale back their plans. However, even with the rising cost of living, especially in relation to fuel prices, Canadians still have an appetite to travel.

“I think we all knew the cost of living is going up, the fuel prices, that was evident,” said Sumaiya Bhula of TD Bank. “People are recalibrating and relooking at their financial goals and saying ‘Okay, I still really want to travel, what can I cut back? Should I stop buying new clothes, should I look at new sale items?'”

As a by-product of scaling back their summer plans to travel closer to home, 79 per cent of Canadians plan to support local, Canadian-owned businesses.

For some families, summer plans were set months ago, and they intend to ride the wave when it comes to fuel costs.

“We’re fortunate enough that we don’t have to cancel plans,” said one Ontario resident. “Whether we have to adjust on the fly remains to be seen. My biggest concern is the cost of fuel.”

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For others, like Grimsby resident Frank Trivieri, navigating these financial waves is simply the cost of doing business. As an independent business owner, Trivieri is frequently on the road travelling for work and says he has had to rethink his summer plans.

“We don’t have any control over fuel,” Trivieri said. “What I try to do is if I can plan a trip where I don’t need to stay overnight, which means it may be a very long day where I need to drive somewhere, maybe even some place like Sudbury, for instance. But I won’t spend the night, where I might have before. And then I’ll just drive back the same day.”

CAA South Central Ontario, which has researched trends in gas prices and how they affect drivers, notes that when gas hits around two dollars, people start changing their plans.

“We can’t control the price of gas but we can control our consumption habits,” said Kaitlynn Furse of CAA South Central Ontario.

Experts say one way consumers can tackle gas prices is by planning ahead and being mindful of what is inside their vehicle.

“Thinking also about also what’s in your vehicle,” Furse said. “For every 100 pounds in your vehicle, your gas mileage is going to change by about one per cent.”

Another tip offered by the organization to help drivers control consumption is to drive according to the speed limit and avoid constant braking.

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