A gasoline exchange traded fund is at its highest level since 2008 as the prices at the pump approach $4 a gallon.
U.S. Gasoline Fund (NYSEArca: UGA) is up about 20% so far this year. [Gasoline ETFs to $5 a Gallon?]
Gas prices increased 11.5 cents over the past two weeks to $3.93 a gallon on March 23, according to the Lundberg Survey.
“Crude oil price hikes have found their way through to the pump,” said editor Trilby Lundberg in a Reuters report.