Similar to the funds that track crude oil futures, the United States Gasoline Fund (UGA) tracks the price of gasoline futures traded on the New York Mercantile Exchange, allowing for a more concentrated bet on rising gas prices.
Prospects for higher prices at the pump are rising, as tension in the Middle East continue to escalate, with some experts forecasting $5 gas in the near future. Some spots in the nation are already charging that and more.
As the global economy improves, growing demand for gasoline is also a catalyst for higher prices.
The United States Gasoline Fund gained almost 7% in February, just shy of the 8% rise in gas prices.
Iran, demand, speculators and potential problems at refineries are all responsible for the nearly 50 cent rise in gas prices over the last two months.
