An analyst says all the numbers from the markets in New York are pointing to a big drop in the price of gasoline.

The Public Utilities Board sets the price schedule at midnight tonight and Dan McTeague expects to see a decrease in the range of 8 cents a litre. Not so for diesel and heating fuels though.

He says those products will go up by two or three cents although a barrel of oil has gone down by close to $10 over the past day or so.

McTeague, President of Canadians for Affordable Energy, says with home heating fuel and diesel already very expensive, it’s going to be a rough winter.

He’s calling on the federal and provincial governments to reduce some of the taxes on fuel products.

McTeague says we’re caught in a world where there is less supply and demand is robust. He believes it would be wise for many of us to have contingency plans in place.