Oil getting its ass kicked certainly throws a wrench into the gears.
The PCs are recovering in the polls a little, and the latest Ipsos Reid poll actually
puts them back in the lead. Calling an election right now on those numbers would suggest a PC minority, but if they can continue to rally support, that could help promote a majority, so waiting helps.
But, the drop in oil and the impact it will have on the budget and budget surplus creates an easy avenue for Trudeau and Mulcair to win political points: "They said they would balance the budget, they lied." There's really no good time to call the election, I think. Calling one for late February/March doesn't seem to be any better than waiting until October, so no reason to do it now.