A few weeks ago, the President said rising gas prices were due to middle east uncertainties and speculators. Yes the middle east is unstable and Iran will have nuclear weapons with three years but there is a lot more to the story. Speculators do play a role but they speculate on both rising and falling prices. If they think the price will rise, they buy, if they think prices will fall, they sell and sell short. Speculators are just as likely to cause a market to rise as they are to cause it to fall.
There is a much more insidious reason for the rise in gas prices. If a dollar is worth a dollar a gallon iof gas costs $4, if a dollar is worth 50 cents a gallon will now cost $8. Every penny the government prints or borrows will raise the price of gas. Govt spending is the real problem.