Key Takeaways:
- In the Maritimes, paying more to fill up the tank makes drivers reevaluate their financial priorities.
- The highest fuel price in New Brunswick topped $2 per liter on Thursday. It was another week in which prices surpassed previous highs.
- Schwetz joked that he would devise a new mode of transportation to alleviate the financial strain.
Paying extra to fill up the tank makes drivers in the Maritimes reconsider their financial priorities.
“It impacts the way we budget,” Steve Schwetz said as he filled up his 1957 Chevrolet. “I just brought this one out of storage today before filling it up, and it’ll probably cost me over a hundred dollars.”
On Thursday, the maximum fuel price in New Brunswick surpassed $2 per liter. It was again another week in which prices reached new highs.
Although fuel customers received some relief, the maximum price per liter remains around $2.60.
Also read: N.B public health changes might give the chief medical officer more authority
According to a poll conducted by Narrative Research, a Halifax-based public opinion and market research firm, the rising price of fuel has Canadians reconsidering how they use their vehicle.
Nearly 60% of respondents polled in Atlantic Canada said they are driving less due to rising living costs.
Over four out of ten Canadians have reduced their driving by restricting the number or distance of their travels.
According to Constantine Passaris, an economics professor at the University of New Brunswick in Fredericton, there won’t be many breaks at the pumps over the holidays or throughout the summer.
Even lower demand from drivers who trade in their cars for less expensive alternatives like walking or biking is unlikely to impact the marketplace substantially.
“In the foreseeable future, the path of fuel prices will be upward and at higher and higher levels,” Passaris said, “so any respite for consumers would be infinitesimally small.”
Schwetz quipped that he would find a new way to travel around to lessen the financial pain.
“Perhaps I’ll get a horse.”
Source: Global News
Get Canada and New Brunswick News’s top News, Market news, and other worldwide news only on New Brunswick Tribune.
