Canadians Optimistic on Gas Prices

Most believe low fuel prices will continue in 2016: CAA

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OTTAWA -- Most Canadians think current relatively low retail gasoline prices will continue through next year, according to research by the Canadian Automobile Association (CAA).

Only a third of Canadians (34%) believe gas prices will rise in 2016, while 56% say they will either stay the same or decline even further, the survey found.

The average retail price of gas in Canada is hovering around 98 cents a liter ($4.48 Canadian per Canadian gallon; $3.71 Canadian per U.S. gallon; $2.68 U.S. per U.S. gallon), down significantly from about $1.15 a liter ($5.23 Canadian per Canadian gallon; $4.35 Canadian per U.S. gallon; $3.14 U.S. per U.S. gallon) at the same time last year, and down from roughly $1.20 a liter ($5.46 Canadian per Canadian gallon; $4.54 Canadian per U.S. gallon; $3.28 U.S. per U.S. gallon) two years ago.

The survey also found that the price of gas continues to be a big topic for Canadians, even if lower prices are the “new normal.” There has been only a marginal drop in the percentage of Canadians who say they pay attention to the price of gas--to 72% from 75%.

Finally, lower prices have not translated into more driving in the minds of Canadians. A solid majority, 63%, said they are driving about the same amount as before gas prices started to drop.

The results are based on a survey of 2,005 representative Canadians.

CAA is a federation of nine clubs providing more than six million members with roadside, automotive and travel services, member savings and comprehensive insurance services. CAA also advocates on issues of concern to its members, including road safety, the environment, mobility, infrastructure and consumer protection.