According to a report on CNN, "irrational" behavior and the popular perception of fuel scarcity explains surging gas prices in the Southeast and Midwest more than the effects of Hurricane Ike.

Dr. Rao Unnava, a marketing professor at Ohio State University, quoted by CNN said, "When you have a perceived scarcity of any product, research shows the attractiveness of that product goes up."

The perception of scarcity accounts, for instance, for the success of sales limiting items by quantity or time. Such promotions often double or triple the sales results on the given item or service.

Although the oil and gas refineries along the Texas coast were not seriously damaged and many are back in operation only four days after Hurricane Ike's 110 mph winds, prices along the Gulf Coast spiked on three consecutive days in the wake of the storm.

On Saturday the per gallon price along the coast climbed 6 cents, followed by another 6 cents Sunday and five on Monday for a total 17 cents. The same phenomenon spread in the central and eastern U.S. where in the same period 23 states recorded a price jump of five cents or more according to AAA figures.

On Monday the average price in Tennessee stood at $4.12, with Georgia residents paying $4.16. Prices in Michigan prices went up 13 cents and in Indiana 12 cents.