Oil Price Hits High for 2015

112357945_065869ad69_zFor the first time this year, oil is above $60 per barrel.

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.

Photo courtesy of: Roadsidepictures