Alberta income tax cut still planned despite lower oil prices [Video]

A provincial income tax cut could be coming for Albertans, along with a reprieve at the pumps, in connection with the price of oil.

With the summer driving season over and a return to regular routines, the price of West Texas Intermediate (WTI) crude has dropped below $70USD a barrel.

“Our view is that, with the volatility we’re getting day to day, we’re going to see oil prices hover around where they are now, maybe dipping below $70, then above $70, but averaging next year at around $74 a barrel,” said Mark Parsons, ATB’s chief economist.

“This will definitely help at the pumps for consumers. And it’s expected just to only add to what we think is going to be further rate cuts by the Bank of Canada.”

With the dip in oil price, those at the pump haven’t seen the financial payoff just yet, with prices in Calgary still …