Is the present expansion of the universe really accelerating?

The current observations are usually explained by an accelerating expansion of the present universe. However, with the present quality of the supernovae Ia data, the allowed parameter space is wide enough to accommodate the decelerating models as well. This is shown by considering a particular example of the dark energy equation-of-state $w_\phi\equiv p_\phi/\rho_\phi=-1/3$, which is equivalent to modifying the \emph{geometrical curvature} index $k$ of the standard cosmology by shifting it to $(k-\alpha)$ where $\alpha$ is a constant. The resulting decelerating model is consistent with the recent CMB observations made by WMAP, as well as, with the high redshift supernovae Ia data including SN 1997ff at $z= 1.755$. It is also consistent with the newly discovered supernovae SN 2002dc at $z=0.475$ and SN 2002dd at $z=0.95$ which have a general tendency to improve the fit.