TORONTO, ON – Canadian consumers are paying for Toronto’s gridlock.
A recent report from the Toronto Region Board of Trade (TRBT) says traffic delays in and around the Greater Toronto Area (GTA) resulting in high fuel and trucking costs that are passed on to the consumer to the tune of more than half a billion dollars a year.
One million tons, or about $3 billion worth of goods, travel through the GTA by truck every day, but gridlock is slowing down deliveries, resulting in expensive fixes, the costs of which are being passed on to consumers.
The TRBT estimates that goods cost $500 million to $650 million more at the store because of the increased costs. Additionally, the highway congestion costs GTA households about $125 per year.
The board says the backups along the Toronto-Waterloo corridor are one of the most pressing economic and lifestyle challenges for residents in the area.
Losses are also showing up in productivity because raw materials aren’t arriving in time for manufacturers. Goods are also not making it to ports, airports, and rail terminals reliably, causing delays with exports, which is affecting businesses in other countries according to the report.
Highway 401 around Toronto Pearson International Airport was identified as the area’s most congested highway.
Last mile deliveries are not only affected by backups on the highway, but on GTA city streets because of the lack of unloading and parking areas, causing tickets for couriers and trucking companies to rise.
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