Canadians intend on spending 18 hours behind the wheel on road trips this summer despite volatile gas prices.

That’s about the time it would take to drive from Vancouver to Regina or Toronto to Halifax.

Road trips are expected to account for about 55 per cent of summer travel this year, with 70 per cent of road trippers intending to go on multiple journeys, according to a survey by rental car platform Turo Inc.

The report said 66 per cent of road trippers intend to stay within Canada, with the most popular destinations being Banff, Alta., Toronto, Vancouver, Montreal, Prince Edward Island and Jasper, Alta.

“We expected road trips to play a big role in Canadians’ summer travel plans this year, but what surprised us was the sheer scale,” Bassem El-Rahimy, vice-president of Turo Canada, said in a news release.

“Canadians aren’t just taking one road trip. They’re planning multiple getaways, spending hours behind the wheel and, in many cases, budgeting thousands to do it. That tells us this isn’t necessarily about finding a cheaper way to travel. It’s about choosing a better one.”

Gas prices remain elevated as the war in Iran escalates, reaching a national average of $1.73 per litre on Tuesday, up from last week’s average of $1.64, according to the Canadian Automobile Association (CAA) .

But hitting the open road is still the most cost-effective way to travel. Nearly half of Canadians said they are choosing to drive over flying due to the costs, while 70 per cent have at least two road trips planned this summer.

That doesn’t necessarily mean that driving is cheap. For example, about a quarter of Albertans expect to spend more than $5,000 on their summer road trips, compared to one in six Ontarians.

Younger Canadians are also intending to spend big money on road trips this year, with 18 per cent of gen-Zers planning to take four or more road trips this year, while 28 per cent intend to spend more than $5,000 on summer travel.

Gen-Zers are also most likely to travel internationally this summer, suggesting a giant summer away from home for the younger generation.

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A U.S. judge has hit pause on the proposed merger between Paramount Skydance Corp. and Warner Bros. Discovery Inc., potentially costing the companies billions of dollars.

On Monday, the federal judge halted the deal on a request from California and 11 other U.S. states, arguing the merger “likely” violates antitrust regulations. Meanwhile, in August another judge could extend the hold while they decide if a full trial is needed.

The 12 states want a trial in April 2027, though the companies had hoped to close the deal on Wednesday.

If the deal is not completed by September, Paramount owes Warner Bros. shareholders US$7 million in late fees per day, meaning that an April trial could add up to well over US$1 billion in extra costs.

Read more here.

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Today’s Posthaste was written by Ben Cousins with additional reporting from Financial Post staff and Bloomberg.

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