# United States Gasoline Fund, LP

United States Gasoline Fund, LP is an Exchange-Traded Product based in New York, United States.

## Overview

- **Organization type:** Exchange-Traded Product
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 2006
- **Assets under management:** Under $100 million (per SEC filing, 2024)
- **Website:** www.unitedstatesgasolinefund.com

## Regulatory record

- **Reports private funds:** No

## About

The United States Gasoline Fund, LP (ticker: UGA) launched in 2006 under the sponsorship of Wainwright Holdings and United States Commodity Funds LLC, the same group behind the United States Oil Fund (USO). Co-founder Andrew Chanin helped structure the fund as a commodity pool that issues shares on the NYSE Arca, giving investors a regulated vehicle to gain exposure to gasoline futures without trading on the CME directly. UGA invests primarily in near-month RBOB gasoline futures contracts traded on the New York Mercantile Exchange. The fund rolls its positions monthly to maintain exposure to the front contract, a strategy that subjects returns to contango or backwardation effects. Known portfolio holdings consist solely of exchange-traded futures and cash equivalents. The fund does not invest in physical gasoline or equities. Geographic exposure is limited to US Gulf Coast and New York Harbor benchmarks (per SEC filings, 2023). By early 2024, net assets were approximately $26 million, a decline from a peak of roughly $150 million in 2012 (per SEC filings). The fund is overseen by CEO John Love and CFO Stuart P. Mersky. Wainwright Holdings is the administrative sponsor. The fund operates as a commodity pool regulated under the Commodity Exchange Act. A structural differentiator is the fund's single-commodity focus on gasoline futures, offering distinct granularity compared with diversified energy ETPs. This narrow mandate subjects the fund to gasoline-specific supply-demand dynamics, including refinery utilization and seasonal driving patterns. The fund uses a straightforward futures roll strategy with no leverage or derivatives beyond the front-month contract.

## Sectors

- Energy
- Commodities

## People

- John Love — CEO and President
- Andrew Chanin — Co-Founder
- Stuart P. Mersky — Chief Financial Officer

## Questions

### Who manages investment decisions at United States Gasoline Fund, LP?

John Love serves as CEO and President, overseeing investment strategy. Stuart P. Mersky is the CFO. The fund is administered by United States Commodity Funds LLC under Wainwright Holdings (per SEC filings, 2023).

### How does United States Gasoline Fund gain exposure to gasoline prices?

UGA invests primarily in near-month RBOB gasoline futures contracts traded on the NYMEX. The fund rolls its positions monthly to maintain front-contract exposure, which subjects returns to roll yield effects from contango or backwardation.

### Is United States Gasoline Fund regulated as an exchange-traded product?

Yes. UGA issues shares that trade on the NYSE Arca under the ticker UGA. The fund is structured as a commodity pool regulated by the CFTC and files periodic financial statements with the SEC.

### Does United States Gasoline Fund invest in physical gasoline?

No. UGA holds exclusively cash or cash equivalents alongside exchange-traded gasoline futures. It does not invest in physical gasoline, storage tanks, or refinery capacity (per SEC filings, 2023).

### How does United States Gasoline Fund differ from the United States Oil Fund (USO)?

USO tracks West Texas Intermediate crude oil futures, while UGA tracks RBOB gasoline futures. Both are sponsored by United States Commodity Funds LLC and use similar futures-roll strategies, but UGA offers exposure specifically to gasoline, a distinct refined petroleum market.

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Last updated: 2026-06-03T20:00:00.000Z

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