AAA: Americans waste $2B a year on premium gas

A report by automobile ownership group AAA found Americans wasted more than $2 billion last year on premium gasoline their cars didn't need.

According to AAA, most car engines in the United States are designed to run on regular gas. Premium gas has a higher octane rating, meaning it's able to tolerate higher pressures inside the engine. Some 70 percent of vehicles on the road only require regular fuel, according to the group.

"Drivers see the 'premium' name at the pump and may assume the fuel is better for their vehicle," said John Nielsen, AAA's managing director of automotive engineering and repair. "AAA cautions drivers that premium gasoline is higher octane, not higher quality, and urges drivers to follow the owner's manual recommendations for their vehicle's fuel."

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