Traders are buzzing about whether its a sign that the era of low gas prices for American drivers is over.
“It looks like this market is breaking out,” said Phil Flynn, a senior energy analyst at the Price Futures Group in Chicago.
Some even predicted oil would fall further to $30 a barrel, but that didn’t happen. Instead, oil climbed steadily back up in April. That’s not great news for drivers. Gas prices have jumped to $2.62 a gallon on average — costing nearly a quarter more than a month ago.
Find out more about oil prices at CNN Money.
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