TODAY   |  August 31, 2012

As summer dwindles, gas price hikes accelerate

NBC’s Tom Costello reports on the recent spike in prices at the pump as travelers hit the road for the Labor Day weekend.

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This content comes from Closed Captioning that was broadcast along with this program.

>> gas prices have soared into the labor day weekend . tom costello in bethesda, maryland, with bad news for drivers. good morning to you.

>> reporter: nationally we're paying $3.83 a gallon. that is up $0.10 in a week. here in the d.c. area we're averaging about $4 a gallon but across the country drivers are paying more for gasoline than they ever have going into a labor day weekend . this is not the news any of us wanted to hear going into the labor day weekend . gas prices have been on the climb this week. in some cities, 10 to 15% increases in a day. that's the biggest jump in 18 months. on this color coded map green shows the lowest prices in the country, red the highest. illinois and california are bright red , both $4.15 a gallon. in los angeles thursday $4.16.

>> i remember being a small child and standing in line for $0.50 a gallon gas and going oh, my god, this is expensive.

>> reporter: in chicago $4.41, highest in the country but we found $4.49.

>> the first time i filled my small car and spent over $50.

>> sometimes you have to give up what you enjoy most and put it in your tank, i guess.

>> reporter: hurricanic gets blame for driving up prices. oil rigs, refineries, even a critical pipeline shut down. cnbc's scott cohn is there.

>> reporter: good news no problems with the refineries off the gulf coast . the issue is getting them up and running. the longer that takes, the higher prices can go.

>> reporter: also a ruptured pipeline in wisconsin, a refinery fire in california, an expensive summer.

>> we've never seen the national average this high for labor day weekend . the gouge is on.

>> reporter: trim a calculates if you're driving from denver to chicago in a 2008 toyota van you'll pay $238 in fuel. same vehicle from san diego to seattle, $3.17 in fuel. driving from atlanta to tucson, $400 in fuel. the good news, gas prices aren't expected to stay this high.

>> between thanksgiving and christmas, average may drop to mid $3 range and certainly some areas could drop even lower than that.

>> reporter: that's good news. listen, we often see a spike in pump prices this time of the year because we're seeing refineries reduce their inventories from the summer blend and get ready for the winter blend. you throw in a hurricane and you can really cause a jump in prices and that's exactly what we've seen. savannah.

>> we have, indeed. tom costello in bethesda, maryland, thank you.