"Even just the threat of a hurricane, that can shut down crude production, particularly in the Gulf Coast, and that can also cause oil prices to rise," Gladden said.
If the price of oil hits $140 to $150 per barrel "we are going to see significantly increased gas prices."
GAS PRICES WILL SURPASS $6 NATIONWIDE BY AUGUST, JPMORGAN SAYS
However, Gladden doesn't see consumers pumping the brakes despite the fact that some became wary when prices hit $4 per gallon.
Rather, "we are seeing people make different economic decisions," he said. "So it might not necessarily be reflected in gas use, but it might be that they're eating out less, and they're spending fewer dollars on discretionary spending."
The higher prices go, the "more creative drivers are going to be how they save money" in other areas of their lives, Gladden said.