An expert on fuel prices at the pump doesn't see any big shifts in prices from where they are now.
Dan McTeague of GasBuddy.com tells AM800 listeners on the Lynn Martin Show on Monday the top end of gas prices will be about $1.27 a litre for regular unleaded.
He says the carbon tax value is already factored in and many retailers are swallowing around five cents a litre to stay competitive.
McTeague says the looming trade war between China and the US is chilling the global price of oil.
"That's got a lot of traders, hedge funds, speculators thinking of course that this could be a worse trade war than thought and that could mean a slowdown in global economic activity which in turn leads to less demand," says McTeague.
McTeague says there is a lot less oil in the world markets and that could be a problem.
"OPEC, Russia, problems in Venezuela, problems in Libia, of course sanctions on Iran," says McTeague. "All these things are suggesting we could be in a very tight oil supply scenario in the not too distant future if not now."
McTeague says the threat of an increase in prices later this summer is not a high as initially expected.
"$1.40 would have been a no-brainer had it not been for what retailers get by throwing in the garbage five or six cents of their retail margin which is what they've done and that's great for consumers, but I think $1.35 certainly within reach," adds McTeague.
McTeague says Canada's restricted ability to export oil because of blocks on pipeline construction in BC is keeping the value of the Canadian dollar low.
A majority of Canadians say they are worried or somewhat worried about the increasing price of gas, according to a new Nanos Research survey.