An exchange traded fund (ETF) tracking gasoline futures rallied more than 2% on Wednesday amid the party in commodity markets. Bulls seemed convinced the Federal Reserve will keep the monetary punch bowl well stocked, and bid prices higher from oil to silver.
U.S. Gasoline Fund (NYSEArca: UGA) climbed over 2% on healthy trading volume. Heading into Wednesday, retail gasoline prices had increased for 35 straight days.
The Los Angeles Times reported $5 a gallon gas is already here in some parts of the country.
U.S. Gasoline Fund was up 28.7% year to date as of April 26, according to Morningstar.
U.S. Gasoline Fund
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