Metro Vancouver residents are feeling the pinch at the pump these days, and nearly one-third say gas prices will affect their Canada Day travel plans.
Based on a survey commissioned by Coast Capital Savings and conducted by Mustel Group, 57 per cent of families say gas prices are affecting their spending on recreation, including eating out and going to events, while 37 per cent say the price of gas will impact whether they'll enroll their kids in summer activities this year.
"It did not come as any surprise. You know, we do know that the high price of gas does have an impact on Metro Vancouver residents," said Rachel Coyle, vice-president retail operating office for Coast Capital Savings in a news release. “Nearly one-in-three Metro Vancouver residents said that gas prices will impact their travel this Canada Day weekend.”
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The survey, which gathered feedback from 401 Metro Vancouver residents earlier in June, also found that 60 per cent of families say gas prices have hurt their ability to build savings - and nearly 4 in 10 said it’s impacting their ability to repay debt.
"You don't want to make short term decisions that are going to impact your long term financial health. And debt repayment, or missing that credit card payment will have a long-term impact," Coyle said.
Last Wednesday some motorists got a brief relief at the pumps and were able to fill up for just 126.9 cents per litre. But the break was short-lived and the price at the pump quickly rose again.
According to tracking site GasBuddy.com, the lowest price for gas in the city on Tuesday morning was in South Vancouver at Petro-Canada near 54th and Kerr and at the Chevron at 57th and Knight. There, drivers could fill up for 131.9 cents per litre.
The margin of error for this sample size is +/- 4.9 per cent 19 times out of 20 at 95 per cent confidence.
With files from CTV News Vancouver's Ben Miljure
