A new report by Deloitte Canada is making some cautious predictions for the price of Oil and Gas this year.

In their Energy, Oil, and Gas Price Forecast, Deloitte is predicting an average price of $80 USD per barrel of oil, while forecasting an average price of $74.30 USD for Western Canadian Select.

There is some optimism for consumers.

The report predicts that the cost of heating your home should level off this year. However, they caution that geopolitical instability, weather, and the potential for a recession will make energy prices volatile throughout 2023.