How are gas prices set? : Planet Money High gas prices have fueled speculation and investigations — is anyone raising prices and keeping prices high for profit? To find out, we break down the price of gas, piece by piece, to show you how we get to the price we see at the pump and how much everyone profits at each step of the way. | Subscribe to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

Breaking down the price of gasoline

Breaking down the price of gasoline

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Justin Sullivan/Getty Images
SAN FRANCISCO - MAY 07: Gas prices nearing $4 a gallon are seen on a pump display May 7, 2007 in San Francisco, California. (Photo by Justin Sullivan/Getty Images)
Justin Sullivan/Getty Images

Gas is expensive. That's no surprise if you've been filling up your tank, watching the news or reading reports about inflation.

The rising prices we've seen at the tank have made us mad, made us skeptical and have helped fuel speculation that the oil companies are taking advantage of us.

On today's episode, we're after the real story. We break down the price of a gallon of gas into its component parts to answer the question that's been one everyone's minds all year — is anyone raising prices and keeping prices high on purpose to profit more?

Music: Back in the Day, Running Late & Marvellous Vibe

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