Gasoline Prices Hit Highest Seasonal Level in Over 10 Years

Gasoline prices have notched their highest seasonal level since 2012, defying expectations for significant relief at the pumps after Labor Day weekend as oil prices have jumped on Saudi production cuts.

A customer pumps gasoline at an Arco gas station in Mill Valley, Calif., on March 3, 2015. Justin Sullivan/Getty Images

Gasoline prices have risen to their highest seasonal level since 2012, defying expectations for significant relief at the pumps after the U.S. Labor Day weekend as oil prices have soared on Saudi production cuts.

The national average cost for a gallon of regular-grade gasoline was $3.811 as of Sept. 5, according to AAA data.