Gas prices may soon stop rising

Photo courtesy: MGN

Gas prices jumped 9 cents per gallon over the past two weeks, with the average price per gallon for regular gasoline reaching $2.83, the highest since June 2015.

One analyst says the rising cost of crude oil is to blame. The current gas price is 37 cents higher than it was a year ago, but this current spike could soon end.

The shift to higher-cost summer-grade gasoline is almost complete, and higher oil prices are already mostly built into the price at the pump.

It is unlikely the average regular-grade price will reach the $3 mark, industry analyst Trilby Lundberg said.