All arrows are pointing downward as the Public Utilities Board eyeballs the numbers ahead of the weekly price adjustment of fuel.
Dan McTeague, President of Canadians for Affordable Energy, expects to see gas drop by about a cent-and-a-half and diesel by four cents. The analysts predicts a more significant decrease in the price of home heating fuel—6 or 7 cents—but a smaller decrease in how much we pay for propane for the fireplace.
Oil—both West Texas Intermediate and Brent Crude—are trading at over $110 per barrel today.
This is the weekend that the US launches its summer driving season with Memorial Day but McTeague says it’s clear that high prices are not stopping demand.
The PUB sets the new numbers at midnight tonight but rarely do they last a full week for the agency uses an interruptor clause to change prices.