What You Don't Know About Gas Prices

15 Jul 2011 06:14 5
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Most Americans know the price of gasoline better than the cost of almost anything else they buy regularly. But do they know all the factors that go into that price, or even the source of the crude oil used to make their gas? Special Correspondent Josh Zepps takes an inside look at everything that goes into the price of gas -- from the ground to your tank. Josh also explains why crude oil costs so much in the first place, where most of that oil comes from, and why the gas you buy varies from season to season, and place to place.

Josh interviews gas station owner Scott Brown, who tells him why he's not responsible for the prices he charges, and why he makes more money on a bag of Cheetos than on a tank of gas. Josh also visits the embassies of some oil producing nations with Energy Strategist Editor Elliott Gue to find out which is the top supplier of oil to the United States. And Jessica Nesterak of the Oil Price Information Service explains the different regional and seasonal variants that keep gasoline from being priced uniformly across the country or around the year.

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