Gas prices have smashed records in recent weeks as the world grapples with Russia’s invasion of Ukraine and demand has soared as the economy reopens.
The daily average retail price for gas across the country hit an all-time high of 197.4 cents per litre Tuesday, up from the start of the year, when it hovered around 146.1 cents, Natural Resources Canada data shows.
The high prices have drivers grumbling, but there are a few ways to get better mileage and reduce your gas bills, says Teresa Di Felice, an assistant vice-president at the Canadian Automobile Association’s south central Ontario branch.
PLAN YOUR TRIPS
Saving on gas and getting better mileage starts before you leave home. If you research your route and use traffic newscasts or driving apps, you can avoid accident zones and other slow-moving areas, which help you save on gas, says Di Felice.
Grouping your trips too. “Sometimes we go out some place and then get home and are like, ‘Oh I meant to go to that place’ and you go out again,” Di Felice says. “Try and think about the trips that you need to take, so you can combine them and avoid rush hour.”
PRACTICE PROPER VEHICLE MAINTENANCE
Mileage is better when vehicles are running properly, says Di Felice. To keep your vehicle in good shape, she recommends ensuring engine filters are clean, brake fluids are topped up and tire pressure is optimal.
“It’s not good for your gas or your car, if you’re driving underinflated or even overinflated,” she says.
To learn what the optimal pressure is, Di Felice tells drivers to look for guidance printed on the inside of your driver-side car door. Because driving, road conditions and weather can impact pressure, she suggests setting a monthly alert on your phone or marking your calendar, so you review the tire pressure regularly.
AVOID HARD BRAKING AND ‘JACK RABBIT’ STARTS
Cars consume more fuel when they go from stopping to travelling at a high speed immediately or vice versa. When you drive, try not to slam on the brakes at the last second or hit the gas hard as you take off from a stop light or sign to save on gas, says Di Felice.
USE CRUISE CONTROL WHEN IT IS SAFE TO DO
Maintaining a constant speed can boost savings because you’re avoiding fluctuations that hurt your fuel efficiency. Turn to cruise control, when it’s safe, to help your mileage, says Di Felice, who notes maximum fuel efficiency is achieved for most cars between 80 and 90 kilometres an hour.
AVOID IDLING
“People have this idea that they have to run their car before they start driving it in order for it to warm up because they think that’s better for the car,” says Di Felice.
“That maybe true, if you’re driving a really, really old model… but you don’t really need to run a newer car for two or three minutes before you take off.”
You’re pretty safe to get moving within 15 to 30 seconds of starting your car, and not idling your vehicle will save you gas and help the environment, says Di Felice.
BE STRATEGIC ABOUT AIR CONDITIONING
“Your air conditioner is a really big drain on your gas tank, especially if you’re choosing the automatic max function in your car,” says Di Felice.
She recommends drivers roll down their windows before opting for air conditioning, avoid the maximum auto air conditioning features vehicles have and stop idling their cars in the warm months to cool them down before heading off.
REMOVE ROOF RACKS WHEN NOT IN USE
If you have roof racks or other storage devices on your car, consider taking them off your vehicle, when you don’t need them to transport goods. These devices create a drag on your car and your fuel efficiency, says Di Felice.
KEEP TABS ON GAS PRICES
While you often can’t avoid filling up on gas when your car is nearly on empty, it is worth watching prices when you have some leeway, says Di Felice. Several websites map out gas stations and note their prices, so you can find deals, and news sites will often alert readers when prices are due to rise or drop by a few cents, she says.
LOOK FOR LOYALTY PROGRAMS
Many gas stations, credit cards and other loyalty programs offer discounts on gas. CAA, for example, offers three cents off per litre at Shell stations for all its members, says Di Felice. Esso, Husky’s and several other stations have incentive programs too.
Sometimes these programs let you earn points each time you fill up and those points can be exchanged for other rewards.
Di Felice says, “Maybe you’re not saving directly at the pump, but maybe you’re saving a few dollars on a grocery bill or something else that you typically purchase.”
MAKE THESE TIPS A HABIT
Most people know what to do to improve their mileage or save on gas, but easily slip out of following that guidance. Build the advice into your routine, says Di Felice.
“It’s just a matter of making it a habit.”
This report by The Canadian Press was first published May 12, 2022.
MONTREAL – Travel company Transat AT Inc. reported a loss in its latest quarter compared with a profit a year earlier as its revenue edged lower.
The parent company of Air Transat says it lost $39.9 million or $1.03 per diluted share in its quarter ended July 31.
The result compared with a profit of $57.3 million or $1.49 per diluted share a year earlier.
Revenue in what was the company’s third quarter totalled $736.2 million, down from $746.3 million in the same quarter last year.
On an adjusted basis, Transat says it lost $1.10 per share in its latest quarter compared with an adjusted profit of $1.10 per share a year earlier.
Transat chief executive Annick Guérard says demand for leisure travel remains healthy, as evidenced by higher traffic, but consumers are increasingly price conscious given the current economic uncertainty.
This report by The Canadian Press was first published Sept. 12, 2024.
Dollarama Inc.’s food aisles may have expanded far beyond sweet treats or piles of gum by the checkout counter in recent years, but its chief executive maintains his company is “not in the grocery business,” even if it’s keeping an eye on the sector.
“It’s just one small part of our store,” Neil Rossy told analysts on a Wednesday call, where he was questioned about the company’s food merchandise and rivals playing in the same space.
“We will keep an eye on all retailers — like all retailers keep an eye on us — to make sure that we’re competitive and we understand what’s out there.”
Over the last decade and as consumers have more recently sought deals, Dollarama’s food merchandise has expanded to include bread and pantry staples like cereal, rice and pasta sold at prices on par or below supermarkets.
However, the competition in the discount segment of the market Dollarama operates in intensified recently when the country’s biggest grocery chain began piloting a new ultra-discount store.
The No Name stores being tested by Loblaw Cos. Ltd. in Windsor, St. Catharines and Brockville, Ont., are billed as 20 per cent cheaper than discount retail competitors including No Frills. The grocery giant is able to offer such cost savings by relying on a smaller store footprint, fewer chilled products and a hearty range of No Name merchandise.
Though Rossy brushed off notions that his company is a supermarket challenger, grocers aren’t off his radar.
“All retailers in Canada are realistic about the fact that everyone is everyone’s competition on any given item or category,” he said.
Rossy declined to reveal how much of the chain’s sales would overlap with Loblaw or the food category, arguing the vast variety of items Dollarama sells is its strength rather than its grocery products alone.
“What makes Dollarama Dollarama is a very wide assortment of different departments that somewhat represent the old five-and-dime local convenience store,” he said.
The breadth of Dollarama’s offerings helped carry the company to a second-quarter profit of $285.9 million, up from $245.8 million in the same quarter last year as its sales rose 7.4 per cent.
The retailer said Wednesday the profit amounted to $1.02 per diluted share for the 13-week period ended July 28, up from 86 cents per diluted share a year earlier.
The period the quarter covers includes the start of summer, when Rossy said the weather was “terrible.”
“The weather got slightly better towards the end of the summer and our sales certainly increased, but not enough to make up for the season’s horrible start,” he said.
Sales totalled $1.56 billion for the quarter, up from $1.46 billion in the same quarter last year.
Comparable store sales, a key metric for retailers, increased 4.7 per cent, while the average transaction was down2.2 per cent and traffic was up seven per cent, RBC analyst Irene Nattel pointed out.
She told investors in a note that the numbers reflect “solid demand as cautious consumers focus on core consumables and everyday essentials.”
Analysts have attributed such behaviour to interest rates that have been slow to drop and high prices of key consumer goods, which are weighing on household budgets.
To cope, many Canadians have spent more time seeking deals, trading down to more affordable brands and forgoing small luxuries they would treat themselves to in better economic times.
“When people feel squeezed, they tend to shy away from discretionary, focus on the basics,” Rossy said. “When people are feeling good about their wallet, they tend to be more lax about the basics and more willing to spend on discretionary.”
The current economic situation has drawn in not just the average Canadian looking to save a buck or two, but also wealthier consumers.
“When the entire economy is feeling slightly squeezed, we get more consumers who might not have to or want to shop at a Dollarama generally or who enjoy shopping at a Dollarama but have the luxury of not having to worry about the price in some other store that they happen to be standing in that has those goods,” Rossy said.
“Well, when times are tougher, they’ll consider the extra five minutes to go to the store next door.”
This report by The Canadian Press was first published Sept. 11, 2024.
TORONTO – The U.S. Consumer Financial Protection Bureau has ordered TD Bank Group to pay US$28 million for repeatedly sharing inaccurate, negative information about its customers to consumer reporting companies.
The agency says TD has to pay US$7.76 million in total to tens of thousands of victims of its illegal actions, along with a US$20 million civil penalty.
It says TD shared information that contained systemic errors about credit card and bank deposit accounts to consumer reporting companies, which can include credit reports as well as screening reports for tenants and employees and other background checks.
CFPB director Rohit Chopra says in a statement that TD threatened the consumer reports of customers with fraudulent information then “barely lifted a finger to fix it,” and that regulators will need to “focus major attention” on TD Bank to change its course.
TD says in a statement it self-identified these issues and proactively worked to improve its practices, and that it is committed to delivering on its responsibilities to its customers.
The bank also faces scrutiny in the U.S. over its anti-money laundering program where it expects to pay more than US$3 billion in monetary penalties to resolve.
This report by The Canadian Press was first published Sept. 11, 2024.
