United States Gasoline Fund, LP (NYSE Arca: UGA) is a commodity pool structured as a Delaware limited partnership that provides investors with exposure to gasoline futures prices. It makes money by issuing publicly traded limited partnership interests (shares) and deploying that capital into futures contracts tracking the Benchmark Futures Contract for gasoline. UGA's investment objective is to have the average daily percentage change in its net asset value (NAV) track within plus or minus ten percent of the average daily percentage change in the price of the Benchmark Futures Contract over any 30 successive valuation days. UGA invests primarily in futures contracts for gasoline, crude oil, diesel-heating oil, natural gas, and other petroleum-based fuels traded on NYMEX, ICE Futures Europe, and ICE Futures U.S. The fund was organized on April 13, 2007, and maintains its principal office in Walnut Creek, California. It is not an operating company and generates no product revenue.

Revenue model

UGA generates revenue through management fees charged on fund assets and investment income (or losses) from its futures and cash equivalent holdings. Investors gain or lose value based on changes in the NAV of their limited partnership interests, which tracks gasoline futures prices.

Products and services

Publicly traded limited partnership interests (shares) listed on NYSE Arca. The fund holds futures contracts for gasoline, crude oil, diesel-heating oil, natural gas, and other petroleum-based fuels traded on NYMEX, ICE Futures Europe, and ICE Futures U.S.

Customers and end markets

Investors seeking exchange-traded exposure to gasoline futures prices. End market is commodity futures and exchange-traded products.

Value-chain role

Commodity pool operator and exchange-traded product issuer. Acts as an intermediary between retail and institutional investors and gasoline futures markets via listed limited partnership interests.

Geographic exposure

Principal office in Walnut Creek, California. Futures contracts traded on U.S. and foreign exchanges including NYMEX, ICE Futures Europe, and ICE Futures U.S.

Source: SEC 10-K, filed 2026-02-27

Industry: Commodity Contracts Brokers & Dealers