$1.40 a litre gas expected this summer
Apr 24, 2008 - 05:12 PM
By Moya Dillon
WHITBY -- As fuel prices continue to rise sales of luxury items like RVs have actually increased at one local dealership, while sales of more everyday items like tent trailers have seen a steady decline.
"We've actually seen an increase in all of last year's sales figures except tent trailers," said Craig McFadden, sales manager at Owasco RV Centre in Whitby.
"The gasoline prices are mostly affecting everyday families, which are the people who would normally be buying tent trailers. I think with gas prices affecting the price of vegetables and groceries everyone's just watching what they spend and being tight about their budget until they know how much their cost of living is going to increase."
A new energy report by CIBC World Markets predicts average fuel costs of $1.40 this summer, with skyrocketing increases continuing for the next four years. The report goes on to predict averages of $1.80 for the summer of 2010 and as much as $2.25 in the summer of 2012. This is partly contributed to current production estimates being overstated by nine per cent since they include figures for natural gas, which can't be manufactured into oil for consumer fuel.
"I own an RV and I'm not really worried about it, I'm more worried about my everyday car," Mr. McFadden said of the rising gas prices. "Don't get me wrong, I'm not happy about the prices, but because you're only going to use an RV about once a month in the summer, the costs don't affect it as much."
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