Acetic acid is one of common substances in produced fluids of oil and natural gas and has important effect on C0₂ corrosion. It is one of the main factors resulting in failure of metallic materials. Study shows that under certain conditions, low molecular weight organic acids (formic acid, acetic acid and propionic acid) are main corrosion resources of carbon steel pipeline failure and acetic acid accounts for the highest percentage of these low molecular weight organic acids, up to 50-90%. Reviewed are studies on effect of acetic acid in oil and gas gathering and transportation pipelines on carbon steel corrosion and proposed are some effective corrosion prevention measures.