Last days of summer push up gasoline prices

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Posted: Sep 11, 2012 10:27 AM
Source: Associated Press

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Topics: new york, gas, price, oil, economy, market

NEW YORK - The price of gasoline is seeing the biggest gain in two weeks Tuesday. But relief should be in sight by the time autumn arrives.

AAA says the national average price rose 1.5 cents to $3.843 per gallon. That's up 15 cents from a month ago. Motorists in about eight states are paying at least $4 per gallon on average.

Supplies of summer gasoline blends are low in some areas because refiners can switch to selling cheaper winter blends beginning on Saturday. And unrelated refinery issues are creating some temporary shortages.

Meanwhile, oil prices are up as traders wait to see whether the Federal Reserve takes additional measures to help the U.S. economy when its policy meeting concludes Thursday.

Benchmark oil rose 36 cents to $96.91 per barrel in New York.

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