Canadian Automobile Association (CAA)

Canadian Automobile Association (CAA)

March 12, 2008 11:59 ET

CAA: Record High Gas Prices Affecting Canadians' Lives

OTTAWA, ONTARIO--(Marketwire - March 12, 2008) - Canadians woke up this week to find themselves paying close to record levels at the pumps, a result of the continuing rise in the global price of oil. Five years ago, Canadians were paying approximately $0.65/L and the price tag on a barrel of oil was under $30.00 USD. Today, the price of oil started at $109.72.00 USD and Canadians are paying up to 1.20/L with predictions that this number will only rise in the coming weeks and months.

"As the price of oil continues to increase, our 5.2 million members and the 80% of Canadians who depend on their vehicle each day are feeling the pinch", said Tim Shearman, CAA President. "The reality in this country is that Canadians rely on their cars to get to work, to drive their kids to hockey practice, or to operate their businesses and this is one more way that Canadians are paying more today to live their lives".

As oil prices continue to soar, the federal government is collecting unprecedented gas taxes. CAA calls upon the government to reinvest these taxes collected at the pumps into roadway infrastructure. "If consumers are going to pay more at the pump, then it is the government's responsibility to ensure that the increased revenue collected is invested in roads, highways and public transit".

About the Canadian Automobile Association (CAA)

CAA is a federation of 9 automobile clubs serving 5.2 million members through 148 offices across Canada. CAA provides a wide range of member services and works to improve travelling and motoring conditions at home and around the world, including national advocacy efforts on both traffic safety and public policy issues that affect Canadian motorists.

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