The national average gasoline prices in the United States have declined for 70 straight days, marking its longest streak since 2015 and its second longest span since 2004.
The United States Gasoline ETF, LP ( NYSEARCA: UGA ) is the financial market's exclusive gasoline-based exchange traded fund and it has now declined by 26.4% dating back to the funds year-to-date high back on June 9 th .
UGA with its $110M asses under management and 0.90% expense ratio is intended to mirror in percentage terms the price swings of gasoline and does so by investing in reformulated gasoline blendstock for oxygen blending futures contracts and other gasoline-related futures contracts.
U.S. gasoline futures ( XB1:COM ) currently sit at $2.914/gal.
Even though gas prices have cooled off over the summer months they are still up 6.7% since Russia invaded Ukraine and higher by 31.2% in 2022.
Other related ETFs: ( USO ), ( UCO ), ( SCO ), ( USL ), ( DBO ), ( USOI ), ( NRGU ), ( UGA ).
See below a chart outlining the streak of daily losses in the national average gasoline prices of the United States. Additionally, in broader market news, the major market averages tick higher on Tuesday, following the worst session for stocks since June.
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National avg. gasoline prices have declined for 70 days, its longest streak since 2015