Gasoline prices in the U.S. could jump again this winter, Treasury Secretary Janet Yellen warned.

In an interview with CNN, Yellen said prices could rise because the European Union will largely stop buying Russian oil this winter and ban services that allow Russia to transport oil by tanker.

She said, however, that the West's price cap proposal was designed to balance limiting revenue from Russian oil while maintaining some access to Russian oil to "keep global oil prices in check."

The G7 agreed to cap Russian oil prices earlier this month. The move is designed to limit the sale of Russian oil above a certain price.

Russia, the world's third-largest oil producer, has threatened not to sell to countries that impose a price ceiling, which could further exacerbate rising global oil prices.

Gasoline prices in the U.S. have fallen to an average of $3.71 after a national average gasoline price spike to $5 a gallon earlier this year.