The vehicle was being driven with the cruise control set. Upon approaching an intersection on a four lane divided roadway I tapped the brakes to deactivate the cruise control. When pressure was applied to the brake pedal the cruise control did not disengage but the vehicle accelerated instead. I released pressure to the brake pedal and the vehicle continued at the cruise control set speed. I again applied pressure to the brake pedal and the vehicle again accelerated. To avoid striking stopped traffic I moved into the right turn lane with the vehicle continuing to accelerate as I attempted to brake the vehicle. Upon entering the intersection my vehicle struck another pickup truck broadside. I believe speed at the point of impact was 60 plus miles per hour. My vehicle then continued on and struck two utility poles. Both vehicles were damaged beyond repair. There appears to be a problem with the speed control system as it would not disengage but caused the vehicle to accelerate. Googling the same problem with other Ford F-150's I found several reports of the exact problem. I ordered the vehicle new and it was maintained by the Ford dealership. There were no known problems. Mileage is 31,900. At this time the vehicle has not been inspected for a cause but is available for inspection. The vehicle is in the towing company lot. This accident could have very easily resulted in fatalities. This accident should have never happened!!!