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  • Gasoline Alert 0 comments
    Mar 23, 2012 10:25 AM | about stocks: UGA, USO, OIL, UCO
    This morning, the United States Gasoline Fund (NYSEARCA: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 (NYSE:GDP) in the United States.

    The popular United States Oil Fund LP (NYSEMKT:ETF) (NYSEARCA: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 (NYSEARCA: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

    Stocks: UGA, USO, OIL, UCO
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