Gas prices have skyrocketed and, according to the experts, will only be trending up from there.

Gas prices Thursday morning at some stations were around $1.26, the highest they have been in quite a while. But Dan McTeague, a senior petroleum analyst for GasBuddy, says the prices won't stop there as Canada finds itself in the middle of what he calls an 'energy supercycle.'

"(This is) something we haven't seen in a very long time," McTeague said.

The 'supercycle' is a combination of diminishing crude supplies and high demands across Canada and the United States. McTeague said the US Department of Energy revealed the highest week of demand for gasoline ever recorded. Highs like that typically only occur in June, July, and August.

"We're on track for some significant price increases as we head into the summer," McTeague said, as trends show even more gasoline consumption is on the way.

That could lead to prices of $1.28 as early as next week, with McTeague predicting summer gas prices to be closer to $1.35.

"The reality here is demand is skyrocketing everywhere," McTeague acknowledged.

Making things worse for the wallet is the carbon tax of six cents a litre that comes into effect on September 1.

"Manitoba will cease being the least expensive place to buy fuel in Canada," McTeague said, explaining the effect of that carbon tax in Manitoba.

As the Canadian dollar continues to weaken, McTeague expects no relief to come for gasoline users in Manitoba. If the dollar was on par, McTeague believes gas would be 15 cents per litre cheaper right now.