Gas Prices Are So High That 60% Of Canadians Are Reportedly Considering Buying A Fuel-Efficient Vehicle

Seeing insanely high gas prices in Canada is nothing new. Since the beginning of the year, gas prices have been rising steadily across the country. In recent weeks, gas prices have been rising so much, that nearly 60% of Canadians are reportedly considering buying a more fuel efficient vehicle just to avoid some of the costs. A solution like this may seem more appealing as these high gas prices are expected to stay for the next foreseeable future.

Back in April, Canadians saw a huge spike in gas prices following the introduction of the carbon tax. While this tax was put in place to deter people from using as much oil and gas, it has caused some places across Canada to break records in terms of high gas prices.

With no signs of stopping anytime soon, it is predicted that you could be paying big bucks to purchase gas in Canada for the rest of summer. 

According to GasBuddy’s Dan McTeague, prices are only going to get higher across Canada for the remainder of summer. Yesterday, Narcity reported that BC, in particular, is expected to see record-breaking prices on gas. Apparently, many Canadians have had enough and are now considering spending money on a new car, to save more on gas in the future.

According to a Nanos survey, around 60% of Canadians are considering purchasing a more fuel-efficient vehicle due to the current gas price climate. Not only that, but 70% of Canadians are concerned about rising gas costs. 

To be even more environmentally friendly, Canadians could even opt for an electric or hybrid vehicle. 

While some are considering purchasing new cars to deal with the gas prices, around 49% are saying that they are likely or somewhat likely to reduce the amount they drive due to the cost. 

At 67.5%, British Columbia had the highest number of residents that said they would be considering reducing the amount they drive to cut costs. 

According to Birchwood Credit Solutions, some of the top fuel-efficient cars in Canada include Toyota Prius V, Toyota RAV4 Hybrid AWD, Hyundai IONIQ Hybrid, and Kia Niro Crossover. 

According to the Huffington Post, gas prices rise every spring due to the higher cost of making summer gasoline. In fact, it can be anywhere from 4 to 5 cents extra per liter for additives that prevent evaporation. This extra money then inherently needs to be made up through increasing prices at fuel tanks.

Prices have also risen due to the federal carbon tax introduced on April 1, 2019. While the Nanos survey found that 42% of Canadians believe the carbon tax is doing its part to encourage less fuel consumption, it is also inherently raising the price. 

Right now, the cheapest place in Canada to purchase gas in Alberta. The average price per liter is in this province is well below the national average coming in at $1.19. 

While the average cost of gas in each of Canada’s provinces varies, it also depends on where you are buying from. Each gas station can be different which means driving up the block could save you some money. 

Be sure to check the GasBuddy website before you buy to find the cheapest gas near you.  

Sources: Huffington Post, CTV