Gasoline prices wobble: UGA gasoline ETF dips after EIA flags big U.S. inventory build
U.S. gasoline inventories rose by 9 million barrels last week, pushing wholesale gasoline futures down 2.6% early Thursday to $1.7838 a gallon. The United States Gasoline Fund (UGA) closed Wednesday at $64.63, down 1.7%. Retail gasoline averaged $2.91 a gallon on Jan. 12, slightly lower than the previous week. Traders await the next EIA inventory report on Jan. 22.