The state is considering investing billions of dollars from its pension fund in oil futures. Some say the way oil is traded on the world market is the cause of high gas prices.

And as Channel Three's Capitol Reporter Whitney Ray explains, that fear could be helping to raise the price at the pump.

It's a question, congressmen and people at the pump want answered.

Guthrie Chibanduza "Do you know why gas prices are so high? Does it have to do with the cost of the oil?

John Holley "Why do you think gas prices are so high? The oil companies they're huh, they've got the prices so jacked up."

Anthony Marin "Why do I think gas prices are so high? Hum… well you got me."

Jim Smith with Florida Petroleum Marketers says speculators are to blame for 4 dollar a gallon gas.

Jim Smith "There are days on that international exchange where that same barrel of oil is traded four or five times."

And each time a barrel is traded… the price goes up.

Whitney Ray / Reporter "Some say without speculators the price of a gallon of gas would be 2.50."

The state is considering investing billions from its pension fund in commodities… like oil.

Dennis MacKee / SBA Director of Communications "We've been evaluating commodities slowly and cautiously now for several years. We currently don't have any investments in commodities nor do we plan any in the immediate future, but we continue to evaluate them."

If Florida invests in oil, there is fear the state would be contributing to higher gas prices.

Jim Smith / FPM "Oil speculation on those international markets have driven the price of crude oil way up beyond what it should be."

Congress is investigating the role speculators play in the record high oil prices.

A measure to limit trading in the oil futures market failed in the U.S. Senate today.Florida State Pension Fund To Invest In Oil Futures