While oil prices are on the rebound on global markets, many petroleum analysts are expecting another price drop this fall. But for those hoping it will mean a corresponding drop in gasoline prices, an expert says that may not be the case.

GasBuddy.com senior petroleum analyst Dan McTeague says the reason that crude and pump price changes don't go hand in hand is that gasoline trades in a much different market from oil.

"(Gasoline) is not in a glut mode that we're seeing with oil," McTeague told CTV's Canada AM Thursday.

McTeague says gasoline refineries are taking advantage of the cheap crude currently available to them and running at 96 or 97 per cent utilization, "which is pretty high for refineries," he says. But that may not mean a drop in prices at the pumps, especially this summer, when demand rises as more drivers take to the roads.

"That could mean higher prices for at least the next few weeks," he said.

The other big reason Canadians are not seeing a drop in gas prices comes down to currency. Canada buys all its fuel, from gasoline to diesel to jet fuel, in U.S. dollars and that means higher costs for us.

"When we see WTI -- West Texas Intermediate crude -- or Brent oil trading at $58 a barrel, we have to (realize) it's not $58 a barrel; it's actually $72 a barrel because of the weakness in the Canadian dollar – which is due in large part to the weakness in the price of crude," McTeague said.

The other reason gas prices are still so high in Canada is taxation, he said. Gas taxes in Canada are double what they are in the U.S. On every litre of gas, we're paying on average about 38 or 30 cents in federal and provincial tax.

"It's much higher in cities such as Vancouver and Montreal, where it could be as high as 50 cents a litre. In the U.S., that average is more like 17 or 18 cents at the most," he said.

The final factor is the fact that so much of refineries in eastern Canada buy Brent crude oil.

"Brent trades at about five cents a litre more than WTI, which means on the East Coast of Canada and even here in Toronto, you still have to pay a little more for gasoline," said McTeague.