Gasoline Alert! - Voice of the People

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Gasoline Alert !

This morning, the United States Gasoline Fund ( UGA ) is once again trading higher. The UGA is climbing by 0.97 cents to $58.09 a share. The move today in the UGA puts it at a new three year high. Gasoline prices at the pump have steadily increased since late December 2011.

The average price of regular unleaded gasoline in the United States is now $3.89 a gallon. Many parts of the country are paying much higher prices, California residents are paying $4.51 a gallon on average. High gasoline prices are a direct tax on the U.S. consumer. Everyone should remember that U.S. consumer spending accounts for 70.0 percent of the gross domestic product ( GDP ) in the United States.

The popular United States Oil Fund LP ( ETF ) ( USO ) is trading higher by 0.48 cents to $40.65 a share. This daily chart is still very strong by trading above the important 50 and 200 moving averages.

The other popular trading vehicle for oil is the iPath S&P GSCI Crude Oil Total Return ( OIL ). The OIL is trading higher by 0.38 cents to $26.92 a share. Higher oil prices will affect the global economy sooner or later.

Nicholas Santiago

InTheMoneyStocks.com

 

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Investing Ideas , Stocks

Referenced Stocks: ETF , GDP

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