Gas prices are high, and crude oil price is why

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ST. JOSEPH COUNTY, Ind. (WNDU)- If you've filled up your tank recently, you may have noticed that gas prices have continued to rise.

On Tuesday, those of us in St. Joseph County saw prices at $2.99.

An analyst for GasBuddy said there's a reason for it: the price for a barrel of oil is $70, which is the highest it's been since 2014.

Production cuts at the Organization of the Petroleum Exporting Countries have had an impact, as have crude oil exports.

But the good news is, it doesn't look like the prices will go up much more.

"I really don't foresee prices going up a lot further," GasBuddy petroleum analyst Patrick DeHaan said. "We'll have to keep an eye out for hurricane season. I would not expect anywhere near $4 a gallon."

DeHaan said depending on how people respond to President Trump backing out of the Iran nuclear deal, that may cause prices to go up as well, but only time will tell.

"I wouldn't expect an immediate impact at the pump since prices are already going up today kind of on their weekly cycle if you will," DeHaan said. "But moving forward Iran could have an impact on future prices, but I wouldn't expect it to be more than 25 cents a gallon if even that."

DeHaan said if this did cause prices to go up, "it could be" long term depending on the long term response to Iran.

Right now, the average cost per gallon in Saint Joseph County is $2.74. That number is 18 cents higher than last month and 38 cents higher than this time last year.