10 Jun 2011

Gas prices may be turning vacations into ‘stay’cations for Canadians

Torontonians operating on a budget this summer may want to retrieve some items out of their storage closets this year.

That's because according to a new study from BMO Bank of Montreal, Canadian travellers will be spending a pretty penny on gasoline compared to previous years.

For instance, the study found that if Ontarians are travelling from Windsor to Halifax, they'll be spending $150 more on gas this year than in 2009.

It could be worse, however, as British Columbians bound for Prince Edward Island, the study found, will pay $426 more for gasoline.

"In our survey, Canadians told us that affordability will be the number-one factor determining their summer vacation plans this year," said Su McVey, vice president of marketing for BMO.

In other words, vacations might be turning in to 'stay'cations. Seasonal gear and equipment are common tenants in Toronto storage units. Renters who are planning to stay closer to home may want to take an inventory of their units and retrieve what they need to make their summer more enjoyable.

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