United States Gasoline Fund (UGA) 10-Q 13 Nov 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 10, 2015
Document Information [Line Items]
Entity Registrant Name	United States Gasoline Fund, LP
Entity Central Index Key	1,396,878
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Trading Symbol	UGA
Entity Common Stock, Shares Outstanding		2,400,000
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,015

Condensed Statements of Financi

Condensed Statements of Financial Condition - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents (Notes 2 and 5)	$ 62,253,230	$ 35,557,290
Equity in trading accounts:
Cash and cash equivalents	8,931,787	6,161,581
Unrealized gain (loss) on open commodity futures contracts	(148,445)	(2,835,302)
Receivable for shares sold	0	1,689,272
Receivable from General Partner (Note 3)	160,282	134,106
Dividends receivable	68	968
Directors' fees and insurance receivable	1,461	673
Prepaid registration fees	89,948	124,693
ETF transaction fees receivable	0	350
Total assets	71,288,331	40,833,631
Liabilities and Partners' Capital
General Partner management fees payable (Note 3)	34,710	22,444
Professional fees payable	91,891	125,122
Brokerage commissions payable	4,073	1,973
License fees payable	3,204	1,948
Total liabilities	$ 133,878	$ 151,487
Commitments and Contingencies (Notes 3, 4 and 5)
Partners' Capital
General Partner	$ 0	$ 0
Limited Partners	71,154,453	40,682,144
Total Partners' Capital	71,154,453	40,682,144
Total liabilities and partners' capital	$ 71,288,331	$ 40,833,631
Limited Partners' shares outstanding	2,250,000	1,200,000
Net asset value per share	$ 31.62	$ 33.90
Market value per share	$ 31.65	$ 34.15

Condensed Schedule of Investmen

Condensed Schedule of Investments	Sep. 30, 2015USD ($)Contract
Market Value	$ 54,992,154
% of Partners' Capital	77.29%
Open Futures Contracts, Long | United States | NYMEX RBOB Gasoline Futures RB November 2015 contracts, expiring October 2015
Number of contracts | Contract	1,240	[1]
Unrealized Gain (Loss) on Open Commodity Contracts	$ (148,445)	[1]
% of Partners' Capital	(0.21%)	[1]
Cash Equivalents | United States Treasury Obligations | 0.09%, 10/15/2015
Principal Amount	$ 10,000,000
Market Value	$ 9,999,669
% of Partners' Capital	14.05%
Cash Equivalents | United States Treasury Obligations | 0.07%, 11/12/2015
Principal Amount	$ 15,000,000
Market Value	$ 14,998,775
% of Partners' Capital	21.08%
Cash Equivalents | United States Treasury Obligations | 0.09%, 12/10/2015
Principal Amount	$ 25,000,000
Market Value	$ 24,995,722
% of Partners' Capital	35.13%
Cash Equivalents | United States Treasury Obligations | 0.14%, 12/31/2015
Principal Amount	$ 4,000,000
Market Value	$ 3,998,635
% of Partners' Capital	5.62%
Cash Equivalents | United States Treasury Obligations | 0.19%, 2/04/2016
Principal Amount	$ 1,000,000
Market Value	$ 999,353
% of Partners' Capital	1.41%
Cash Equivalents | United States
Market Value	$ 56,992,154
% of Partners' Capital	80.10%
Cash Equivalents | United States | Money Market Funds | Morgan Stanley Institutional Liquidity Funds, Government Portfolio
Principal Amount	$ 2,000,000
Market Value	$ 2,000,000
% of Partners' Capital	2.81%
[1]	Collateral amounted to $8,931,787 on open future contracts.

Condensed Schedule of Investme4

Condensed Schedule of Investments (Parenthetical)	9 Months Ended
	Sep. 30, 2015USD ($)
Debt Instrument, Collateral Amount	$ 8,931,787
United States | US Treasury Securities | Cash Equivalents | US Treasury Bill Securities [Member]
Interest rate	0.09%
Expiration date	10/15/2015
United States | US Treasury Securities | Cash Equivalents | US Treasury Bill Securities One [Member]
Interest rate	0.07%
Expiration date	11/12/2015
United States | US Treasury Securities | Cash Equivalents | US Treasury Bill Securities Two [Member]
Interest rate	0.09%
Expiration date	12/10/2015
United States | US Treasury Securities | Cash Equivalents | US Treasury Bill Securities Three [Member]
Interest rate	0.14%
Expiration date	12/31/2015
United States | US Treasury Securities | Cash Equivalents | US Treasury Bill Securities Four [Member]
Interest rate	0.19%
Expiration date	2/04/2016

Condensed Statements of Operati

Condensed Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Gain (loss) on trading of commodity futures contracts:
Realized gain (loss) on closed contracts	$ (24,265,894)	$ (5,067,119)	$ (6,070,541)	$ (54,730)
Change in unrealized gain (loss) on open contracts	1,375,361	(1,499,820)	2,686,857	(4,057,801)
Dividend income	1,335	1,698	6,325	5,127
Interest income	12,325	1,156	25,267	4,071
ETF transaction fees	1,400	2,450	8,750	4,200
Total income (loss)	(22,875,473)	(6,561,635)	(3,343,342)	(4,099,133)
Expenses
General Partner management fees (Note 3)	123,574	71,065	384,254	220,169
Professional fees	47,791	58,035	131,385	130,616
Brokerage commissions	25,482	8,929	72,352	25,698
Directors' fees and insurance	2,726	2,973	8,435	9,435
License fees	3,089	1,776	9,606	5,504
Registration fees	11,709	11,709	34,745	34,745
Total expenses	214,371	154,487	640,777	426,167
Expense waiver (Note 3)	(59,725)	(78,559)	(160,282)	(116,196)
Net expenses	154,646	75,928	480,495	309,971
Net income (loss)	$ (23,030,119)	$ (6,637,563)	$ (3,823,837)	$ (4,409,104)
Net income (loss) per limited partnership share	$ (9.68)	$ (8.61)	$ (2.28)	$ (5.48)
Net income (loss) per weighted average limited partnership share	$ (9.83)	$ (8.14)	$ (1.63)	$ (5.30)
Weighted average limited partnership shares outstanding	2,341,848	815,761	2,348,535	831,868

Condensed Statement of Changes

Condensed Statement of Changes in Partners' Capital - USD ($)	Total	General Partner	Limited Partners
Net income (loss)	$ (4,409,104)
Net asset value, beginning of period at Dec. 31, 2013	$ 59.89
Net asset value, end of period at Sep. 30, 2014	$ 54.41
Begining Balances at Dec. 31, 2014	$ 40,682,144	$ 0	$ 40,682,144
Addition of 1,650,000 partnership shares	56,345,833	0	56,345,833
Redemption of 600,000 partnership shares	(22,049,687)	0	(22,049,687)
Net income (loss)	(3,823,837)	0	(3,823,837)
Ending Balances at Sep. 30, 2015	$ 71,154,453	$ 0	$ 71,154,453
Net asset value, beginning of period at Dec. 31, 2014	$ 33.90
Net asset value, end of period at Sep. 30, 2015	$ 31.62

Condensed Statement of Changes7

Condensed Statement of Changes in Partners' Capital (Parenthetical)	9 Months Ended
	Sep. 30, 2015shares
Addition of partnership units, units	1,650,000
Redemption of partnership units, units	600,000

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash Flows from Operating Activities:
Net income (loss)	$ (3,823,837)	$ (4,409,104)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
(Increase) decrease in commodity futures trading account - cash and cash equivalents	(2,770,206)	(680,726)
Unrealized (gain) loss on open futures contracts	(2,686,857)	4,057,801
(Increase) decrease in receivable from General Partner	(26,176)	69,700
(Increase) decrease in dividends receivable	900	56
(Increase) decrease in directors' fees and insurance receivable	(788)	(1,826)
(Increase) decrease in prepaid registration fees	34,745	34,744
(Increase) decrease in ETF transaction fees receivable	350	0
Increase (decrease) in General Partner management fees payable	12,266	(2,779)
Increase (decrease) in professional fees payable	(33,231)	(148,419)
Increase (decrease) in brokerage commissions payable	2,100	(450)
Increase (decrease) in license fees payable	1,256	(294)
Net cash provided by (used in) operating activities	(9,289,478)	(1,081,297)
Cash Flows from Financing Activities:
Addition of partnership shares	58,035,105	17,187,212
Redemption of partnership shares	(22,049,687)	(17,986,753)
Net cash provided by (used in) financing activities	35,985,418	(799,541)
Net Increase (Decrease) in Cash and Cash Equivalents	26,695,940	(1,880,838)
Cash and Cash Equivalents, beginning of period	35,557,290	52,193,157
Cash and Cash Equivalents, end of period	$ 62,253,230	$ 50,312,319

ORGANIZATION AND BUSINESS

ORGANIZATION AND BUSINESS	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	NOTE 1 — ORGANIZATION AND BUSINESS The United States Gasoline Fund, LP (“UGA”) was organized as a limited partnership under the laws of the state of Delaware on April 13, 2007. UGA is a commodity pool that issues limited partnership shares (“shares”) that may be purchased and sold on the NYSE Arca, Inc. (the “NYSE Arca”). Prior to November 25, 2008, UGA’s shares traded on the American Stock Exchange (the “AMEX”). UGA will continue in perpetuity, unless terminated sooner upon the occurrence of one or more events as described in its Second Amended and Restated Agreement of Limited Partnership dated as of March 1, 2013 (the “LP Agreement”). The investment objective of UGA is for the daily changes in percentage terms of its shares’ per share net asset value (“NAV”) to reflect the daily changes in percentage terms of the price of gasoline (also known as reformulated gasoline blendstock for oxygen blending, or “RBOB”, for delivery to the New York harbor), as measured by the daily changes in the price of the futures contract for gasoline traded on the New York Mercantile Exchange (the “NYMEX”) that is the near month contract to expire, except when the near month contract is within two weeks of expiration, in which case the futures contract will be the next month contract to expire (the “Benchmark Futures Contract”), less UGA’s expenses. It is not the intent of UGA to be operated in a fashion such that the per share NAV will equal, in dollar terms, the spot price of gasoline or any particular futures contract based on gasoline. It is not the intent of UGA to be operated in a fashion such that its per share NAV will reflect the percentage change of the price of any particular futures contract as measured over a time period greater than one day. United States Commodity Funds LLC (“USCF”), the general partner of UGA, believes that it is not practical to manage the portfolio to achieve such an investment goal when investing in Futures Contracts (as defined below) and Other Gasoline-Related Investments (as defined below). UGA accomplishes its objective through investments in futures contracts for gasoline, crude oil, natural gas, diesel-heating oil and other petroleum-based fuels that are traded on the NYMEX, ICE Futures or other U.S. and foreign exchanges (collectively, “Futures Contracts”) and other gasoline-related investments such as cash-settled options on Futures Contracts, forward contracts for gasoline, cleared swap contracts and over-the-counter (“OTC”) transactions that are based on the price of gasoline, crude oil and other petroleum-based fuels, Futures Contracts and indices based on the foregoing (collectively, “Other Gasoline-Related Investments”). As of September 30, 2015, UGA held 1,240 UGA commenced investment operations on February 26, 2008 and has a fiscal year ending on December 31. USCF is responsible for the management of UGA. USCF is a member of the National Futures Association (the “NFA”) and became registered as a commodity pool operator with the Commodity Futures Trading Commission (the “CFTC”) effective December 1, 2005 and a swaps firm on August 8, 2013. USCF is also the general partner of the United States Oil Fund, LP (“USO”), the United States Natural Gas Fund, LP (“UNG”), the United States 12 Month Oil Fund, LP (“USL”) and the United States Diesel-Heating Oil Fund, LP (“UHN”), which listed their limited partnership shares on the AMEX under the ticker symbols “USO” on April 10, 2006, “UNG” on April 18, 2007, “USL” on December 6, 2007 and “UHN” on April 9, 2008, respectively. As a result of the acquisition of the AMEX by NYSE Euronext, each of USO’s, UNG’s, USL’s and UHN’s shares commenced trading on the NYSE Arca on November 25, 2008. USCF is also the general partner of the United States Short Oil Fund, LP (“DNO”), the United States 12 Month Natural Gas Fund, LP (“UNL”) and the United States Brent Oil Fund, LP (“BNO”), which listed their limited partnership shares on the NYSE Arca under the ticker symbols “DNO” on September 24, 2009, “UNL” on November 18, 2009 and “BNO” on June 2, 2010, respectively. USCF is also the sponsor of the United States Commodity Index Fund (“USCI”), the United States Copper Index Fund (“CPER”) and the United States Agriculture Index Fund (“USAG”), each a series of the United States Commodity Index Funds Trust. USCI, CPER and USAG listed their shares on the NYSE Arca under the ticker symbol “USCI” on August 10, 2010, “CPER” on November 15, 2011 and “USAG” on April 13, 2012, respectively. All funds listed previously are referred to collectively herein as the “Related Public Funds.” UGA issues shares to certain authorized purchasers (“Authorized Participants”) by offering baskets consisting of 50,000 In addition, Authorized Participants pay UGA a $ 350 50,000 In November 2007, UGA initially registered 30,000,000 50.00 300,000 15,000,000 80,000,000 The accompanying unaudited condensed financial statements have been prepared in accordance with Rule 10-01 of Regulation S-X promulgated by the SEC and, therefore, do not include all information and footnote disclosure required under generally accepted accounting principles (“GAAP”) in the United States of America. The financial information included herein is unaudited; however, such financial information reflects all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of USCF, necessary for the fair presentation of the condensed financial statements for the interim period.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The financial statements have been prepared in conformity with GAAP as detailed in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification. UGA is an investment company and follows the accounting and reporting guidance in FASB Topic 946. Commodity futures contracts, forward contracts, physical commodities and related options are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Unrealized gains or losses on open contracts are reflected in the condensed statements of financial condition and represent the difference between the original contract amount and the market value (as determined by exchange settlement prices for futures contracts and related options and cash dealer prices at a predetermined time for forward contracts, physical commodities, and their related options) as of the last business day of the year or as of the last date of the condensed financial statements. Changes in the unrealized gains or losses between periods are reflected in the condensed statements of operations. UGA earns income on funds held at the custodian or futures commission merchant (“FCM”) at prevailing market rates earned on such investments. Brokerage commissions on all open commodity futures contracts are accrued on a full-turn basis. UGA is not subject to federal income taxes; each partner reports his/her allocable share of income, gain, loss deductions or credits on his/her own income tax return. In accordance with GAAP, UGA is required to determine whether a tax position is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any tax related appeals or litigation processes, based on the technical merits of the position. UGA files an income tax return in the U.S. federal jurisdiction, and may file income tax returns in various U.S. states. UGA is not subject to income tax return examinations by major taxing authorities for years before 2012. The tax benefit recognized is measured as the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. De-recognition of a tax benefit previously recognized results in UGA recording a tax liability that reduces net assets. However, UGA’s conclusions regarding this policy may be subject to review and adjustment at a later date based on factors including, but not limited to, on-going analysis of and changes to tax laws, regulations and interpretations thereof. UGA recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized as of and for the period ended September 30, 2015. Authorized Participants may purchase Creation Baskets or redeem Redemption Baskets only in blocks of 50,000 UGA receives or pays the proceeds from shares sold or redeemed within three business days after the trade date of the purchase or redemption. The amounts due from Authorized Participants are reflected in UGA’s condensed statements of financial condition as receivable for shares sold, and amounts payable to Authorized Participants upon redemption are reflected as payable for shares redeemed. Authorized Participants pay UGA a fee of $ 350 Profit or loss shall be allocated among the partners of UGA in proportion to the number of shares each partner holds as of the close of each month. USCF may revise, alter or otherwise modify this method of allocation as described in the LP Agreement. UGA’s per share NAV is calculated on each NYSE Arca trading day by taking the current market value of its total assets, subtracting any liabilities and dividing that amount by the total number of shares outstanding. UGA uses the closing price for the contracts on the relevant exchange on that day to determine the value of contracts held on such exchange. Net income (loss) per share is the difference between the per share NAV at the beginning of each period and at the end of each period. The weighted average number of shares outstanding was computed for purposes of disclosing net income (loss) per weighted average share. The weighted average shares are equal to the number of shares outstanding at the end of the period, adjusted proportionately for shares added and redeemed based on the amount of time the shares were outstanding during such period. There were no shares held by USCF at September 30, 2015. Offering costs incurred in connection with the registration of additional shares after the initial registration of shares are borne by UGA. These costs include registration fees paid to regulatory agencies and all legal, accounting, printing and other expenses associated with such offerings. These costs are accounted for as a deferred charge and thereafter amortized to expense over twelve months on a straight-line basis or a shorter period if warranted. Cash equivalents include money market funds and overnight deposits or time deposits with original maturity dates of six months or less. Certain amounts in the accompanying condensed financial statements were reclassified to conform to the current presentation. The preparation of condensed financial statements in conformity with GAAP requires USCF to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results may differ from those estimates and assumptions.

FEES PAID BY THE FUND AND RELAT

FEES PAID BY THE FUND AND RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2015
Fees Paid and Related Party Transactions Disclosure [Abstract]
Fees Paid By The Fund And Related Party Transactions	NOTE 3 — FEES PAID BY THE FUND AND RELATED PARTY TRANSACTIONS USCF Management Fee Under the LP Agreement, USCF is responsible for investing the assets of UGA in accordance with the objectives and policies of UGA. In addition, USCF has arranged for one or more third parties to provide administrative, custody, accounting, transfer agency and other necessary services to UGA. For these services, UGA is contractually obligated to pay USCF a fee, which is paid monthly, equal to 0.60% per annum of average daily total net assets. Ongoing Registration Fees and Other Offering Expenses UGA pays all costs and expenses associated with the ongoing registration of its shares subsequent to the initial offering. These costs include registration or other fees paid to regulatory agencies in connection with the offer and sale of shares, and all legal, accounting, printing and other expenses associated with such offer and sale. For the nine months ended September 30, 2015 and 2014, UGA incurred $ 34,745 34,745 Directors’ Fees and Expenses UGA is responsible for paying its portion of the directors’ and officers’ liability insurance for UGA and the Related Public Funds and the fees and expenses of the independent directors who also serve as audit committee members of UGA and the Related Public Funds. UGA shares the fees and expenses on a pro rata basis with each Related Public Fund, as described above, based on the relative assets of each Related Public Fund computed on a daily basis. These fees and expenses for the year ending December 31, 2015 are estimated to be a total of $ 11,100 569,300 Licensing Fees As discussed in Note 4 below, UGA entered into a licensing agreement with the NYMEX on April 10, 2006, as amended on October 20, 2011. Pursuant to the agreement, UGA and the Related Public Funds, other than BNO, USCI, CPER and USAG, pay a licensing fee that is equal to 0.015 on all net assets 9,606 5,504 Investor Tax Reporting Cost The fees and expenses associated with UGA’s audit expenses and tax accounting and reporting requirements are paid by UGA. These costs are estimated to be $ 164,000 Other Expenses and Fees and Expense Waivers In addition to the fees described above, UGA pays all brokerage fees and other expenses in connection with the operation of UGA, excluding costs and expenses paid by USCF as outlined in Note 4 below. USCF has voluntarily agreed to pay certain expenses normally borne by UGA, to the extent that such expenses exceed 0.15 160,282 Note 4 – Contracts and Agreements

CONTRACTS AND AGREEMENTS

CONTRACTS AND AGREEMENTS	9 Months Ended
	Sep. 30, 2015
Contractors [Abstract]
Contracts and Agreements	NOTE 4 — CONTRACTS AND AGREEMENTS Marketing Agent Agreement UGA is party to a marketing agent agreement, dated as of February 15, 2008, as amended from time to time, with the Marketing Agent and USCF, whereby the Marketing Agent provides certain marketing services for UGA as outlined in the agreement. The fee of the Marketing Agent, which is borne by USCF, is equal to 0.06 3 0.04 3 10 The above fee does not include website construction and development, which are also borne by USCF. Brown Brothers Harriman & Co. Agreements UGA is also party to a custodian agreement, dated January 16, 2008, as amended from time to time, with Brown Brothers Harriman & Co. (“BBH&Co.”) and USCF, whereby BBH&Co. holds investments on behalf of UGA. USCF pays the fees of the custodian, which are determined by the parties from time to time. In addition, UGA is party to an administrative agency agreement, dated February 7, 2008, as amended from time to time, with USCF and BBH&Co., whereby BBH&Co. acts as the administrative agent, transfer agent and registrar for UGA. USCF also pays the fees of BBH&Co. for its services under such agreement and such fees are determined by the parties from time to time. Currently, USCF pays BBH&Co. for its services, in the foregoing capacities, a minimum amount of $ 75,000 20,000 0.06 500 0.0465 500 1 0.035 1 75,000 7 15 Brokerage and Futures Commission Merchant Agreements On October 8, 2013, UGA entered into a brokerage agreement with RBC Capital Markets, LLC (“RBC Capital” or “RBC”) to serve as UGA’s FCM effective October 10, 2013. Prior to October 10, 2013, the FCM was UBS Securities LLC. The agreement with RBC requires it to provide services to UGA in connection with the purchase and sale of Futures Contracts and Other Gasoline-Related Investments that may be purchased and sold by or through RBC Capital for UGA’s account. In accordance with the agreement, RBC Capital charges UGA commissions of approximately $ 7 15 For the nine months ended For the nine September 30, months ended 2015 September 30, 2014 Total commissions accrued to brokers $ 72,352 $ 25,698 Total commissions as an annualized percentage of average net assets 0.11 % 0.07 % Commissions accrued as a result of rebalancing $ 69,231 $ 24,830 Percentage of commissions accrued as a result of rebalancing 95.69 % 96.62 % Commissions accrued as a result of creation and redemption activity $ 3,121 $ 868 Percentage of commissions accrued as a result of creation and redemption activity 4.31 % 3.38 % The increase in the total commissions accrued to brokers for the nine months ended September 30, 2015, compared to the nine months ended September 30, 2014, was a result of a greater number of futures contracts that were held and traded as a result of UGA’s increased net assets. NYMEX Licensing Agreement UGA and the NYMEX entered into a licensing agreement on April 10, 2006, as amended on October 20, 2011, whereby UGA was granted a non-exclusive license to use certain of the NYMEX’s settlement prices and service marks. Under the licensing agreement, UGA and the Related Public Funds, other than BNO, USCI, CPER and USAG, pay the NYMEX an asset-based fee for the license, the terms of which are described in Note 3. UGA expressly disclaims any association with the NYMEX or endorsement of UGA by the NYMEX and acknowledges that “NYMEX” and “New York Mercantile Exchange” are registered trademarks of the NYMEX.

FINANCIAL INSTRUMENTS, OFF-BALA

FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2015
Disclosure Of Fair Value Off Balance Sheet Risks [Abstract]
Financial Instruments, Off-Balance Sheet Risks and Contingencies	NOTE 5 — FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES UGA engages in the trading of futures contracts, options on futures contracts and cleared swaps (collectively, “derivatives”). UGA is exposed to both market risk, which is the risk arising from changes in the market value of the contracts, and credit risk, which is the risk of failure by another party to perform according to the terms of a contract. UGA may enter into futures contracts, options on futures contracts and cleared swaps to gain exposure to changes in the value of an underlying commodity. A futures contract obligates the seller to deliver (and the purchaser to accept) the future delivery of a specified quantity and type of a commodity at a specified time and place. Some futures contracts may call for physical delivery of the asset, while others are settled in cash. The contractual obligations of a buyer or seller may generally be satisfied by taking or making physical delivery of the underlying commodity or by making an offsetting sale or purchase of an identical futures contract on the same or linked exchange before the designated date of delivery. Cleared swaps are OTC agreements that are eligible to be cleared by a clearinghouse, e.g., ICE Clear Europe, but which are not traded on an exchange. A cleared swap is created when the parties to an off-exchange OTC swap transaction agree to extinguish their OTC swap and replace it with a cleared swap. Cleared swaps are intended to provide the efficiencies and benefits that centralized clearing on an exchange offers to traders of futures contracts, including credit risk intermediation and the ability to offset positions initiated with different counterparties. The purchase and sale of futures contracts, options on futures contracts and cleared swaps require margin deposits with an FCM. Additional deposits may be necessary for any loss on contract value. The Commodity Exchange Act requires an FCM to segregate all customer transactions and assets from the FCM’s proprietary activities. Futures contracts, options on futures contracts and cleared swaps involve, to varying degrees, elements of market risk (specifically commodity price risk) and exposure to loss in excess of the amount of variation margin. The face or contract amounts reflect the extent of the total exposure UGA has in the particular classes of instruments. Additional risks associated with the use of futures contracts are an imperfect correlation between movements in the price of the futures contracts and the market value of the underlying securities and the possibility of an illiquid market for a futures contract. Buying and selling options on futures contracts exposes investors to the risks of purchasing or selling futures contracts. All of the futures contracts held by UGA through September 30, 2015 were exchange-traded. The risks associated with exchange-traded contracts are generally perceived to be less than those associated with OTC swaps since, in OTC swaps, a party must rely solely on the credit of its respective individual counterparties. However, in the future, if UGA were to enter into non-exchange traded contracts, it would be subject to the credit risk associated with counterparty non-performance. The credit risk from counterparty non-performance associated with such instruments is the net unrealized gain, if any, on the transaction. UGA has credit risk under its futures contracts since the sole counterparty to all domestic and foreign futures contracts is the clearinghouse for the exchange on which the relevant contracts are traded. In addition, UGA bears the risk of financial failure by the clearing broker. UGA’s cash and other property, such as Treasuries, deposited with an FCM are considered commingled with all other customer funds, subject to the FCM’s segregation requirements. In the event of an FCM’s insolvency, recovery may be limited to a pro rata share of segregated funds available. It is possible that the recovered amount could be less than the total of cash and other property deposited. The insolvency of an FCM could result in the complete loss of UGA’s assets posted with that FCM; however, the majority of UGA’s assets are held in investments in Treasuries, cash and/or cash equivalents with UGA’s custodian and would not be impacted by the insolvency of an FCM. The failure or insolvency of UGA’s custodian, however, could result in a substantial loss of UGA’s assets. USCF invests a portion of UGA’s cash in money market funds that seek to maintain a stable per share NAV. UGA is exposed to any risk of loss associated with an investment in such money market funds. As of September 30, 2015 and December 31, 2014, UGA held investments in money market funds in the amounts of $ 2,000,000 28,024,349 69,185,017 13,694,522 For derivatives, risks arise from changes in the market value of the contracts. Theoretically, UGA is exposed to market risk equal to the value of futures contracts purchased and unlimited liability on such contracts sold short. As both a buyer and a seller of options, UGA pays or receives a premium at the outset and then bears the risk of unfavorable changes in the price of the contract underlying the option. UGA’s policy is to continuously monitor its exposure to market and counterparty risk through the use of a variety of financial, position and credit exposure reporting controls and procedures. In addition, UGA has a policy of requiring review of the credit standing of each broker or counterparty with which it conducts business. The financial instruments held by UGA are reported in its condensed statements of financial condition at market or fair value, or at carrying amounts that approximate fair value, because of their highly liquid nature and short-term maturity

FINANCIAL HIGHLIGHTS

FINANCIAL HIGHLIGHTS	9 Months Ended
	Sep. 30, 2015
Supplemental Financial In Formation Disclosure [Abstract]
Financial Highlights	NOTE 6 — FINANCIAL HIGHLIGHTS The following table presents per share performance data and other supplemental financial data for the nine months ended September 30, 2015 and 2014 for the shareholders. For the nine For the nine months ended months ended September 30, 2015 September 30, 2014 (Unaudited) (Unaudited) Per Share Operating Performance: Net asset value, beginning of period $ 33.90 $ 59.89 Total income (loss) (2.08) (5.11) Net expenses (0.20) (0.37) Net increase (decrease) in net asset value (2.28) (5.48) Net asset value, end of period $ 31.62 $ 54.41 Total Return (6.73) % (9.15) % Ratios to Average Net Assets Total income (loss) (3.90) % (8.36) % Management fees* 0.60 % 0.60 % Total expenses excluding management fees* 0.40 % 0.56 % Expenses waived* (0.25) % (0.32) % Net expenses excluding management fees* 0.15 % 0.24 % Net income (loss) (4.47) % (8.99) % * Annualized Total returns are calculated based on the change in value during the period. An individual shareholder’s total return and ratio may vary from the above total returns and ratios based on the timing of contributions to and withdrawals from UGA.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	NOTE 7 — FAIR VALUE OF FINANCIAL INSTRUMENTS UGA values its investments in accordance with Accounting Standards Codification 820 – Fair Value Measurements and Disclosures (“ASC 820”). ASC 820 defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurement. The changes to past practice resulting from the application of ASC 820 relate to the definition of fair value, the methods used to measure fair value, and the expanded disclosures about fair value measurement. ASC 820 establishes a fair value hierarchy that distinguishes between: (1) market participant assumptions developed based on market data obtained from sources independent of UGA (observable inputs) and (2) UGA’s own assumptions about market participant assumptions developed based on the best information available under the circumstances (unobservable inputs). The three levels defined by the ASC 820 hierarchy are as follows: Level I – Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level II – Inputs other than quoted prices included within Level I that are observable for the asset or liability, either directly or indirectly. Level II assets include the following: quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market-corroborated inputs). Level III – Unobservable pricing input at the measurement date for the asset or liability. Unobservable inputs shall be used to measure fair value to the extent that observable inputs are not available. In some instances, the inputs used to measure fair value might fall within different levels of the fair value hierarchy. The level in the fair value hierarchy within which the fair value measurement in its entirety falls shall be determined based on the lowest input level that is significant to the fair value measurement in its entirety. At September 30, 2015 Total Level I Level II Level III Short-Term Investments $ 56,992,154 $ 56,992,154 $ — $ — Exchange-Traded Futures Contracts United States Contracts (148,445) (148,445) — — During the nine months ended September 30, 2015, there were no transfers between Level I and Level II. The following table summarizes the valuation of UGA’s securities at December 31, 2014 using the fair value hierarchy: At December 31, 2014 Total Level I Level II Level III Short-Term Investments $ 34,023,594 $ 34,023,594 $ — $ — Exchange-Traded Futures Contracts United States Contracts (2,835,302) (2,835,302) — — During the year ended December 31, 2014, there were no transfers between Level I and Level II. Effective January 1, 2009, UGA adopted the provisions of Accounting Standards Codification 815—Derivatives and Hedging, which require presentation of qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts and gains and losses on derivatives. Condensed Fair Value Derivatives not Statements of Financial At September 30, Fair Value Accounted for as Hedging Instruments Condition Location 2015 At December 31, 2014 Futures - Commodity Contracts Assets $ (148,445) $ (2,835,302) For the nine months ended For the nine months ended September 30, 2015 September 30, 2014 Change in Change in Location of Realized Unrealized Realized Unrealized Derivatives not Gain (Loss) Gain (Loss) on Gain (Loss) on Gain (Loss) on Gain (Loss) on Accounted for on Derivatives Derivatives Derivatives Derivatives Derivatives as Hedging Recognized Recognized in Recognized in Recognized in Recognized in Instruments in Income Income Income Income Income Futures – Commodity Contracts Realized gain (loss) on closed contracts $ (6,070,541) $ (54,730) Change in unrealized gain (loss) on open contracts $ 2,686,857 $ (4,057,801)

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8 — SUBSEQUENT EVENTS UGA has performed an evaluation of subsequent events through the date the condensed financial statements were issued. This evaluation did not result in any subsequent events that necessitated disclosures and/or adjustments.

SUMMARY OF SIGNIFICANT ACCOUN17

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The financial statements have been prepared in conformity with GAAP as detailed in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification. UGA is an investment company and follows the accounting and reporting guidance in FASB Topic 946.
Revenue Recognition	Revenue Recognition Commodity futures contracts, forward contracts, physical commodities and related options are recorded on the trade date. All such transactions are recorded on the identified cost basis and marked to market daily. Unrealized gains or losses on open contracts are reflected in the condensed statements of financial condition and represent the difference between the original contract amount and the market value (as determined by exchange settlement prices for futures contracts and related options and cash dealer prices at a predetermined time for forward contracts, physical commodities, and their related options) as of the last business day of the year or as of the last date of the condensed financial statements. Changes in the unrealized gains or losses between periods are reflected in the condensed statements of operations. UGA earns income on funds held at the custodian or futures commission merchant (“FCM”) at prevailing market rates earned on such investments.
Brokerage Commissions	Brokerage Commissions Brokerage commissions on all open commodity futures contracts are accrued on a full-turn basis.
Income Taxes	Income Taxes UGA is not subject to federal income taxes; each partner reports his/her allocable share of income, gain, loss deductions or credits on his/her own income tax return. In accordance with GAAP, UGA is required to determine whether a tax position is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any tax related appeals or litigation processes, based on the technical merits of the position. UGA files an income tax return in the U.S. federal jurisdiction, and may file income tax returns in various U.S. states. UGA is not subject to income tax return examinations by major taxing authorities for years before 2012. The tax benefit recognized is measured as the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. De-recognition of a tax benefit previously recognized results in UGA recording a tax liability that reduces net assets. However, UGA’s conclusions regarding this policy may be subject to review and adjustment at a later date based on factors including, but not limited to, on-going analysis of and changes to tax laws, regulations and interpretations thereof. UGA recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income tax fees payable, if assessed. No interest expense or penalties have been recognized as of and for the period ended September 30, 2015.
Creations and Redemptions	Creations and Redemptions Authorized Participants may purchase Creation Baskets or redeem Redemption Baskets only in blocks of 50,000 UGA receives or pays the proceeds from shares sold or redeemed within three business days after the trade date of the purchase or redemption. The amounts due from Authorized Participants are reflected in UGA’s condensed statements of financial condition as receivable for shares sold, and amounts payable to Authorized Participants upon redemption are reflected as payable for shares redeemed. Authorized Participants pay UGA a fee of $ 350
Partnership Capital and Allocation of Partnership Income and Losses	Partnership Capital and Allocation of Partnership Income and Losses Profit or loss shall be allocated among the partners of UGA in proportion to the number of shares each partner holds as of the close of each month. USCF may revise, alter or otherwise modify this method of allocation as described in the LP Agreement.
Calculation of Per Share Net Asset Value (“NAV”)	UGA’s per share NAV is calculated on each NYSE Arca trading day by taking the current market value of its total assets, subtracting any liabilities and dividing that amount by the total number of shares outstanding. UGA uses the closing price for the contracts on the relevant exchange on that day to determine the value of contracts held on such exchange.
Net Income (Loss) Per Share	Net Income (Loss) Per Share Net income (loss) per share is the difference between the per share NAV at the beginning of each period and at the end of each period. The weighted average number of shares outstanding was computed for purposes of disclosing net income (loss) per weighted average share. The weighted average shares are equal to the number of shares outstanding at the end of the period, adjusted proportionately for shares added and redeemed based on the amount of time the shares were outstanding during such period. There were no shares held by USCF at September 30, 2015.
Offering Costs	Offering costs incurred in connection with the registration of additional shares after the initial registration of shares are borne by UGA. These costs include registration fees paid to regulatory agencies and all legal, accounting, printing and other expenses associated with such offerings. These costs are accounted for as a deferred charge and thereafter amortized to expense over twelve months on a straight-line basis or a shorter period if warranted.
Cash Equivalents	Cash Equivalents Cash equivalents include money market funds and overnight deposits or time deposits with original maturity dates of six months or less.
Reclassification	Reclassification Certain amounts in the accompanying condensed financial statements were reclassified to conform to the current presentation.
Use of Estimates	Use of Estimates The preparation of condensed financial statements in conformity with GAAP requires USCF to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed financial statements, and the reported amounts of the revenue and expenses during the reporting period. Actual results may differ from those estimates and assumptions.

CONTRACTS AND AGREEMENTS (Table

CONTRACTS AND AGREEMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
Contractors [Abstract]
Brokerage Commissions	UGA also incurs commissions to brokers for the purchase and sale of Futures Contracts, Other Gasoline-Related Investments or short-term obligations of the United States of two years or less (“Treasuries”). For the nine months ended For the nine September 30, months ended 2015 September 30, 2014 Total commissions accrued to brokers $ 72,352 $ 25,698 Total commissions as an annualized percentage of average net assets 0.11 % 0.07 % Commissions accrued as a result of rebalancing $ 69,231 $ 24,830 Percentage of commissions accrued as a result of rebalancing 95.69 % 96.62 % Commissions accrued as a result of creation and redemption activity $ 3,121 $ 868 Percentage of commissions accrued as a result of creation and redemption activity 4.31 % 3.38 %

FINANCIAL HIGHLIGHTS (Tables)

FINANCIAL HIGHLIGHTS (Tables)	9 Months Ended
	Sep. 30, 2015
Supplemental Financial In Formation Disclosure [Abstract]
Per Unit Performance Data and Other Supplemental Financial Data	The following table presents per share performance data and other supplemental financial data for the nine months ended September 30, 2015 and 2014 for the shareholders. For the nine For the nine months ended months ended September 30, 2015 September 30, 2014 (Unaudited) (Unaudited) Per Share Operating Performance: Net asset value, beginning of period $ 33.90 $ 59.89 Total income (loss) (2.08) (5.11) Net expenses (0.20) (0.37) Net increase (decrease) in net asset value (2.28) (5.48) Net asset value, end of period $ 31.62 $ 54.41 Total Return (6.73) % (9.15) % Ratios to Average Net Assets Total income (loss) (3.90) % (8.36) % Management fees* 0.60 % 0.60 % Total expenses excluding management fees* 0.40 % 0.56 % Expenses waived* (0.25) % (0.32) % Net expenses excluding management fees* 0.15 % 0.24 % Net income (loss) (4.47) % (8.99) % * Annualized

FAIR VALUE OF FINANCIAL INSTR20

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Valuation of Securities Using Fair Value Hierarchy	The following table summarizes the valuation of UGA’s securities at September 30, 2015 using the fair value hierarchy: At September 30, 2015 Total Level I Level II Level III Short-Term Investments $ 56,992,154 $ 56,992,154 $ — $ — Exchange-Traded Futures Contracts United States Contracts (148,445) (148,445) — — During the nine months ended September 30, 2015, there were no transfers between Level I and Level II. The following table summarizes the valuation of UGA’s securities at December 31, 2014 using the fair value hierarchy: At December 31, 2014 Total Level I Level II Level III Short-Term Investments $ 34,023,594 $ 34,023,594 $ — $ — Exchange-Traded Futures Contracts United States Contracts (2,835,302) (2,835,302) — —
Fair Value of Derivative Instruments	Fair Value of Derivative Instruments Condensed Fair Value Derivatives not Statements of Financial At September 30, Fair Value Accounted for as Hedging Instruments Condition Location 2015 At December 31, 2014 Futures - Commodity Contracts Assets $ (148,445) $ (2,835,302)
Effect of Derivative Instruments on Condensed Statements of Operations	The Effect of Derivative Instruments on the Condensed Statements of Operations For the nine months ended For the nine months ended September 30, 2015 September 30, 2014 Change in Change in Location of Realized Unrealized Realized Unrealized Derivatives not Gain (Loss) Gain (Loss) on Gain (Loss) on Gain (Loss) on Gain (Loss) on Accounted for on Derivatives Derivatives Derivatives Derivatives Derivatives as Hedging Recognized Recognized in Recognized in Recognized in Recognized in Instruments in Income Income Income Income Income Futures – Commodity Contracts Realized gain (loss) on closed contracts $ (6,070,541) $ (54,730) Change in unrealized gain (loss) on open contracts $ 2,686,857 $ (4,057,801)

ORGANIZATION AND BUSINESS - Add

ORGANIZATION AND BUSINESS - Additional Information (Detail)	1 Months Ended		9 Months Ended
	Feb. 26, 2008USD ($)$ / sharesshares	Nov. 30, 2007Contracts	Sep. 30, 2015USD ($)$ / shares	Dec. 31, 2014$ / shares	Sep. 30, 2014$ / shares	Dec. 31, 2013$ / shares
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Fee paid by Authorized Purchasers for each order placed to create one or more Creation Baskets or to redeem one or more baskets			$ 350
Number of initially registered units on Form S-1 with the U.S. Securities and Exchange Commission | Contracts		30,000,000
Net asset value per unit | $ / shares	$ 50		$ 31.62	$ 33.90	$ 54.41	$ 59.89
Number of units issued | shares	300,000
Value of units issued	$ 15,000,000
Number of registered units			80,000,000
Creation Baskets
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of units per basket			50,000
Redemption Baskets
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of units per basket			50,000
Open Cleared Swap and Futures Contracts | United States | NYMEX RBOB Gasoline Futures RB May 2015 contracts, expiring April 2015
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of contracts			1,240

SUMMARY OF SIGNIFICANT ACCOUN22

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2015USD ($)
Significant Accounting Policies [Line Items]
Fee paid by Authorized Purchasers for each order placed to create one or more Creation Baskets or to redeem one or more baskets	$ 350
Creation Baskets
Significant Accounting Policies [Line Items]
Number of units per basket	50,000
Redemption Baskets
Significant Accounting Policies [Line Items]
Number of units per basket	50,000

FEES PAID BY THE FUND AND REL23

FEES PAID BY THE FUND AND RELATED PARTY TRANSACTIONS - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2015
Fees Paid and Related Party Transactions [Line Items]
USCF Management Fee			UGA is contractually obligated to pay USCF a fee, which is paid monthly, equal to 0.60% per annum of average daily total net assets.
Ongoing registration fees and other offering expenses			$ 34,745	$ 34,745
Estimated directors fees and expenses	$ 2,726	$ 2,973	8,435	9,435
Licensing fee incurred	3,089	1,776	9,606	5,504
Expense waivers	$ (59,725)	$ (78,559)	$ (160,282)	$ (116,196)
Scenario, Forecast [Member]
Fees Paid and Related Party Transactions [Line Items]
Estimated investor tax reporting cost					$ 164,000
Maximum [Member]
Fees Paid and Related Party Transactions [Line Items]
Costs and expenses annual limit for reimbursement			0.15%
UGA and the Related Public Funds | Scenario, Forecast [Member]
Fees Paid and Related Party Transactions [Line Items]
Estimated directors fees and expenses					569,300
United States Gas Fund Lp | Scenario, Forecast [Member]
Fees Paid and Related Party Transactions [Line Items]
Estimated directors fees and expenses					$ 11,100
Licensing Agreements [Member] | On and after October 20, 2011
Fees Paid and Related Party Transactions [Line Items]
Assets basis for determining fee percentage			on all net assets
Costs and expenses annual limit for reimbursement			0.015%

CONTRACTS AND AGREEMENTS (Broke

CONTRACTS AND AGREEMENTS (Brokerage Commissions) (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Long Duration Contracts Assumptions By Product And Guarantee [Line Items]
Brokerage commissions	$ 25,482	$ 8,929	$ 72,352	$ 25,698
Brokerage commissions as a percentage of average daily net assets	0.11%	0.07%	0.11%	0.07%
Rebalancing Investments Transaction [Member]
Long Duration Contracts Assumptions By Product And Guarantee [Line Items]
Brokerage commissions			$ 69,231	$ 24,830
Brokerage commissions as a percentage of average daily net assets	95.69%	96.62%	95.69%	96.62%
Creation And Redemption Activity [Member]
Long Duration Contracts Assumptions By Product And Guarantee [Line Items]
Brokerage commissions			$ 3,121	$ 868
Brokerage commissions as a percentage of average daily net assets	4.31%	3.38%	4.31%	3.38%

CONTRACTS AND AGREEMENTS - Addi

CONTRACTS AND AGREEMENTS - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2015USD ($)
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Annual transfer agency services fee	$ 20,000
Annual Minimum Amount Applicability Description	75,000
Maximum [Member]
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Transaction fees per transaction	15
Commissions per round-turn trade, including applicable exchange and NFA fees for Oil Futures Contracts and options on Oil Futures Contracts	15
Minimum [Member]
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Annual Fee for custody, fund accounting and fund administration services	75,000
Transaction fees per transaction	7
Commissions per round-turn trade, including applicable exchange and NFA fees for Oil Futures Contracts and options on Oil Futures Contracts	$ 7
First $500 million of the Related Public Funds' combined net assets
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Fee percentage	0.06%
Base amount for determining fee percentage	$ 500,000,000
Related Public Funds' combined net assets greater than $500 million but less than $1 billion
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Fee percentage	0.0465%
Related Public Funds' combined net assets greater than $500 million but less than $1 billion | Maximum [Member]
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Base amount for determining fee percentage	$ 1,000,000,000
Related Public Funds' combined net assets greater than $500 million but less than $1 billion | Minimum [Member]
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Base amount for determining fee percentage	$ 500,000,000
Related Public Funds' combined net assets exceed $1 billion
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Fee percentage	0.035%
Base amount for determining fee percentage	$ 1,000,000,000
Marketing Agent and Affliate of USCF
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Maximum Aggregate Compensation Paid For Distribution Related Services Percentage	10.00%
Marketing Agreement [Member] | Assets up to $3 billion
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Fee percentage	0.06%
Base amount for determining fee percentage	$ 3,000,000,000
Marketing Agreement [Member] | Assets in excess of $3 billion
Long-Duration Contracts, Assumptions by Product and Guarantee [Line Items]
Fee percentage	0.04%
Base amount for determining fee percentage	$ 3,000,000,000

FINANCIAL INSTRUMENTS, OFF-BA26

FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES - Additional Information (Detail) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Cash investments in money market funds	$ 2,000,000	$ 28,024,349
Deposits in domestic and foreign financial institutions	$ 69,185,017	$ 13,694,522

FINANCIAL HIGHLIGHTS (Per Share

FINANCIAL HIGHLIGHTS (Per Share Performance Data and Other Supplemental Financial Data) (Detail) - $ / shares		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2014
Per Share Operating Performance:
Net asset value, beginning of period		$ 33.90	$ 59.89
Total income (loss)		(2.08)	(5.11)
Net expenses		(0.20)	(0.37)
Net increase (decrease) in net asset value		(2.28)	(5.48)
Net asset value, end of period		$ 31.62	$ 54.41
Total Return		(6.73%)		(9.15%)
Ratios to Average Net Assets
Total income (loss)		(3.90%)	(8.36%)
Management fees	[1]	0.60%	0.60%
Total expenses excluding management fees	[1]	0.40%	0.56%
Expenses waived	[1]	(0.25%)	(0.32%)
Net expenses excluding management fees	[1]	0.15%	0.24%
Net income (loss)		(4.47%)	(8.99%)
[1]	Annualized

FAIR VALUE OF FINANCIAL INSTR28

FAIR VALUE OF FINANCIAL INSTRUMENTS (Valuation of Securities Using Fair Value Hierarchy) (Detail) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Short-Term Investments
Schedule of Trading Securities and Other Trading Assets [Line Items]
Securities, fair value	$ 56,992,154	$ 34,023,594
Exchange-Traded Futures Contracts | United States
Schedule of Trading Securities and Other Trading Assets [Line Items]
Securities, fair value	(148,445)	(2,835,302)
Fair Value, Inputs, Level 1 | Short-Term Investments
Schedule of Trading Securities and Other Trading Assets [Line Items]
Securities, fair value	56,992,154	34,023,594
Fair Value, Inputs, Level 1 | Exchange-Traded Futures Contracts | United States
Schedule of Trading Securities and Other Trading Assets [Line Items]
Securities, fair value	(148,445)	(2,835,302)
Fair Value, Inputs, Level 2 | Short-Term Investments
Schedule of Trading Securities and Other Trading Assets [Line Items]
Securities, fair value	0	0
Fair Value, Inputs, Level 2 | Exchange-Traded Futures Contracts | United States
Schedule of Trading Securities and Other Trading Assets [Line Items]
Securities, fair value	0	0
Fair Value, Inputs, Level 3 | Short-Term Investments
Schedule of Trading Securities and Other Trading Assets [Line Items]
Securities, fair value	0	0
Fair Value, Inputs, Level 3 | Exchange-Traded Futures Contracts | United States
Schedule of Trading Securities and Other Trading Assets [Line Items]
Securities, fair value	$ 0	$ 0

FAIR VALUE OF FINANCIAL INSTR29

FAIR VALUE OF FINANCIAL INSTRUMENTS (Fair Value of Derivative Instruments) (Detail) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Commodity Contracts | Futures | Assets
Derivatives, Fair Value [Line Items]
Derivatives not Accounted for as Hedging Instruments	$ (148,445)	$ (2,835,302)

FAIR VALUE OF FINANCIAL INSTR30

FAIR VALUE OF FINANCIAL INSTRUMENTS (Effect of Derivative Instruments on Condensed Statements of Operations) (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Realized Gain (Loss) on Derivatives Recognized in Income	$ (24,265,894)	$ (5,067,119)	$ (6,070,541)	$ (54,730)
Change in Unrealized Gain (Loss) on Derivatives Recognized in Income			2,686,857	(4,057,801)
Commodity Contracts | Futures | Realized gain (loss) on closed positions
Derivative Instruments, Gain (Loss) [Line Items]
Realized Gain (Loss) on Derivatives Recognized in Income			(6,070,541)	(54,730)
Commodity Contracts | Futures | Change in unrealized gain (loss) on open contracts
Derivative Instruments, Gain (Loss) [Line Items]
Change in Unrealized Gain (Loss) on Derivatives Recognized in Income			$ 2,686,857	$ (4,057,801)