Furnace oil dropped by six cents a litre this week but an industry analyst was expecting it to actually cost more at this point.

All fuels in Newfoundland and Labrador except propane dropped in price on Thursday but the decrease in furnace oil was the greatest.

Dan McTeague, President of Canadians for Affordable Energy, says we may have dodged a bullet this winter because of favourable weather.

He says it means that anybody who has been predicting big increases, as he has, has been upended by rising interest rates and warm weather in Europe.