How Wall Street Is Raising the Price of Gas

By:  Mark Greenblatt

(Image Credit: Kevork Djansezian/Getty Images)Every time you fill up your car with gas, your dollar ends up in the hands of  a wide range of interests from around the world. Some of your money goes to oil companies, some  of what you pay goes to refineries, and more still gets divided up by the gas stations you stop at.

What may surprise you, however, is what one of Wall Street's top regulators has to say about who else you're paying: speculators on Wall Street.

Bart Chilton, a commissioner at the Commodity Futures Trading Commission,  the federal agency that regulates commodity futures and option trading in the United States, said it's time to look at home - in addition to overseas - when searching for the reasons why gas prices are on the rise.

"I'm fired up," Chilton said. "I'm concerned and we have to look after consumers."

According to Chilton, much of the problem is actually "made in the USA," created by Wall Street traders who gamble on oil prices.

"There aren't markets without speculation," Chilton told ABC News. "It's the excessive speculation we are concerned about."

Read more »