Adam Ulbricht of Radio America examines how gas prices are set. There is no simple answer to how the price consumers pay at the pump really works. Instead, prices are set through a process that begins with drilling and ends at gas stations across the country. Taxes, regulations and crude oil prices are all major factors that increase the price you pay. Dan Kish of the Institute for Energy Research, John Felmy of the American Petroleum Institute, Scott Drenkard of the Tax Foundation and Rob Underwood of the Petroleum Marketers Association of America each help explain the complex issue.
