End of summer gas spike hits drivers

The average price of a gallon of regular gas increased 1.5 cents nationally to $3.84 in AAA's latest reading Tuesday, the first significant move in gas prices since late August. The August run-up in prices was caused by Gulf Coast refinery disruptions as Hurricane Isaac approached.

Prices were expected to retreat quickly once the Gulf region's facilities came back online. But Tom Kloza, chief analyst at the Oil Price Information Service, said the retreat in prices following the storm is being delayed because Isaac hit so close to Sept. 15. That date is important because it is when the

United States switches from a more expensive summer blend of gasoline to a cheaper winter blend. As that date approaches, refineries don't want to be caught with too much of the more expensive gasoline. So in the week before the changeover, they cut back on their summer blend production, tightening the supply. Read more >>