Overall, in the U.S. each person consumes or uses at least one gallon of gas per day. That equals around 360 million gallons per day. The U.S. imports about 60% of the crude oil that is currently used, reports Commodity HQ.
The factors that influence gasoline prices are the instability in the Middle East, where there are plenty of oil reserves, yet political unrest dominates, creating uncertainty. The summer driving season has come to a close, but could have contributed to the third quarter performance of UGA. Finally, the U.S. dollar has fallen in value, causing commodity prices to rise.
United States Gasoline ETF
Tisha Guerrero contributed to this article.