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Mon August 13, 2012
Originally published on Mon August 13, 2012 4:52 am
(SOUNDBITE OF MUSIC)
DAVID GREENE, HOST:
NPR's business news starts with a spike in gas prices.
Gasoline prices jumped 18 cents over the last couple of weeks. That's the biggest increase so far this year. The Lundberg Survey shows that heading into the weekend, the national average price of a gallon of self-serve was $3.69. Now, analysts say the spike is in part because of some refinery and pipeline issues around the country.
Also to blame, though, this summer's drought, particularly in the Midwest. It's pushing up the cost of corn-based ethanol. Transcript provided by NPR, Copyright National Public Radio.