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Factor fuel costs into car purchases amid high gas prices, experts urge
Ratehub.ca says average monthly car ownership costs have risen to $1,439 as gasoline prices climb, prompting advice to consider fuel-efficient options.
- Statistics Canada reported a record 21.2% monthly gasoline price increase in March, pushing annual inflation to 2.4% as pump prices surged 40% above pre-war levels amid Middle East tensions.
- Rising fuel costs have pushed average monthly car ownership expenses to $1,439 from $1,373, according to Ratehub, while Canadians pay an average of $231 monthly on fuel alone.
- Kristine D'Arbelles, managing director for public affairs at the CAA, advises buyers to factor fuel costs into budgets and notes fuel-efficient driving practices can save drivers up to 20% annually.
- The federal government temporarily halted fuel excise taxes until Labour Day to remove as much as 10 cents per litre, though Morgan Roberts, vice-president at RH Insurance, says uncertainty remains post-pause.
- Experts suggest hybrid or electric vehicles to mitigate volatility, though D'Arbelles warns purchasing decisions depend on individual circumstances as consumers face ongoing uncertainty regarding future fuel prices.
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7 Articles
Winnipeg Free Press+5 Reposted by 5 other sources
Breaking News, Sports, Manitoba, Canada
·Winnipeg, Canada
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Total News Sources7
Leaning Left3Leaning Right0Center3Last UpdatedBias Distribution50% Left, 50% Center
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
50% Center
L 50%
C 50%
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