The United States Gasoline Fund, LP (UGA) reported its financial results for the third quarter of 2025, revealing a net income of $4.9 million for the three months ending September 30, 2025, compared to a net loss of $13.7 million in the same period of the previous year. For the nine months ended September 30, 2025, UGA recorded a net income of $1.3 million, a significant improvement from a net loss of $1.6 million in the prior year. The fund's total income for the third quarter was $5.1 million, driven primarily by realized gains on closed commodity futures contracts and an increase in dividend income.

UGA's total assets decreased to $74.1 million as of September 30, 2025, down from $101.0 million at the end of 2024. This decline was attributed to a reduction in cash and cash equivalents, which fell from $75.9 million to $60.2 million. The number of limited partner shares outstanding also decreased from 1.6 million to 1.15 million, reflecting a net redemption of shares during the period. The net asset value (NAV) per share increased to $64.30, up from $62.94 at the end of 2024.

In terms of operational developments, UGA held 916 futures contracts for gasoline traded on the NYMEX as of September 30, 2025. The fund's management continues to focus on maintaining a close correlation between its NAV and the price of gasoline futures, with the average daily change in UGA’s NAV for the 30 days ending September 30, 2025, being within the targeted range of 90% to 110% of the average daily change in the price of the Benchmark Futures Contract. The fund's management fee remained stable at 0.60% of average daily total net assets.

Looking ahead, UGA's management anticipates that market conditions, including fluctuations in gasoline prices and interest rates, will continue to influence its financial performance. The fund's strategy remains focused on investing in gasoline futures and related investments to achieve its investment objectives. UGA has not leveraged its assets and intends to maintain adequate liquidity to meet its margin and collateral requirements. The management also noted that while the current geopolitical landscape and economic conditions present challenges, they are committed to navigating these factors to optimize returns for investors.

About United States Gasoline Fund, LP

The United States Gasoline Fund, LP (UGA) is an exchange-traded commodity fund that invests primarily in gasoline futures and related petroleum-based fuels. Its core business involves tracking daily gasoline price movements for investors seeking exposure or hedging in the gasoline market. Managed by USCF, UGA offers a cost-effective way to gain market exposure, leveraging futures contracts and derivatives to closely follow gasoline price fluctuations.

This description was generated via AI from an annual report. Updated 8 months ago.

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