8 Apr 2011

Analyst says Canada drivers will cut back on driving in the summer due to rising gas prices

Storage units in Toronto are often used as sanctuaries for Canadian motorists' most prized possession: their summer car. But if a fuel analyst's predictions are accurate, these same people may be leaving their automobiles where they are.

In an interview with Canada television news station CTV, Roger McKnight, a petroleum industry expert, said that rising gas prices are becoming cost prohibitive and he expects motorists to be cutting back on their travel time as a result.

"I think we're at that stage right now," McKnight told the news station when asked if Canadians have reached their "threshold." McKnight continued, "I can see it happening now that people are starting to withdraw … even though this is soon to be the start of driving season at the end of May."

While McKnight forecasts a drop in the number of people taking to the roadways, the rate at which cars have been sold in Canada would suggest otherwise. Dennis DesRosiers, an industry analyst, said total vehicle sales rose 5.5 percent year-over-year last month. Many carmakers reported sales were driven by increased demand for fuel-efficient vehicles.
 

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