Filling Up with Premium Gas? Why You May Be Wasting Your Money

U.S. drivers are wasting money on premium gasoline, according to new research released Tuesday by AAA.

Americans have spent some $2.1 billion on premium gas over the past year when regular would have worked just as well. The study showed that 16.5 million U.S. citizens filled up with premium gas at least once this past year.

Some drivers believe their occasional use of high-octane fuel boosts the vehicle's performance.

The research concludes that premium gas does not increase horsepower or fuel economy in cars designed to run on regular gas, nor does it reduce emissions or keep engines cleaner.

Though premium blends can cost as much as 50 cents more per gallon than regular gas, drivers upgraded to high test more than 270 million times over the past year.