A consumer spending tracker conducted by RBC found that Canadian spending on gasoline rose 9.1 per cent in March, as the conflict in the Middle East continues to drive oil prices higher.
“A sharp increase in gasoline prices, tied to geopolitical tensions, boosted spending at fuel stations, and contributed to strength in essentials’ purchases,” the tracker states.
RBC says that growth shows how consumers are “reinforcing the ongoing shift toward experience-related spending.”
Spending on groceries and household and construction fell 0.8 per cent from March, along with dining by 0.6 per cent.
However, spending on travelling increased 0.9 per cent from March, and clothing, shoes and related apparel rose 0.7 per cent.
Canadians hoping for relief in gas prices after Carney announcement
On Tuesday, Prime Minister Mark Carney announced a temporary suspension of the federal fuel excise tax starting next Monday until Labour Day.
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Patrick De Haan, a petroleum analyst at GasBuddy, said Canadians can expect to see a notable change in prices “pretty quickly” from that, with an “average savings about $4 to $8 on a gasoline fill-up.”
“It’s going to be savings for consumers all summer long,” he said.
The Canadian Automobile Association currently lists national Canadian gas prices as 174.9 cents a litre, a slight rise from 173.2 cents a litre listed Tuesday.
Of course it did. Why fly anywhere? The world is all bombs death and religious fanatics killing each other and innocent people.
People are staying home. Driving, seeing their own county by car and RV. Not to mention the amount of home delivery companies and the advent of on line shopping. Every where a Turban in a dodge van, delivering every thing from drugs to food to booze to whatever Amazon puts out.
Brian – you are and idiot still, having an EV does not change things lol…
@Teddy : YOU are the idiot. I have an EV
Without farmers and the crops they produce we would be starving and paying 10 times what we are for basic food staples and thanks to the Liberal economy they were already losing money on almost every crop even before the US Iran conflict. That war has only served to highlight the disastrous policies of the Liberals and shown that our food supply is in danger of collapse.
While the city people whine about not being able to go on road trips and sneak off to cottage country for the weekend, farmers are paying 40%…yes FORTY percent more for both diesel and fertilizer.
This when the SK government actually released their annual report that every major cereal and pulse crop will lose money for every acre planted BEFORE these price increases.
Citidiots worry about luxury and vacations while their very food supply is about to collapse because western farmers are getting sick of losing money year after year.
They keep talking about the gas relief I will believe it when I see it and if it does happen how long will it be till they find excuses to creep it up again. A lot of Canadians won’t be going anywhere over the summer this year they can’t afford it.
Duhhhh!