A well known fuel price watcher, blames a recent spike in gas prices of speculation by wholesale gas suppliers and refining capacity shortages.

Dan McTeague , who is the man behind the website www.tomorrowsgaspricestoday.com, says gas prices in Calgary should not have shot up seven cents a litre earlier this week.

McTeague says traders made the move, anticipating the U-S and Europe we’re about to roll out economic stimulus packages.

He predicts gas prices here should be back to $1.14 or $1.16 per litre by the weekend

McTeague also supports the call by Alberta’s Premier for a National Energy Strategy.

He says people in central and eastern Canada would love to see oil from Alberta and Saskatchewan shipped out east to be refined.

The former Liberal MP says instead of focusing on growing Canadian energy exports, we should take care of ourselves first and only then look to sell the surplus.