Tags: MasterCard | Retail | Gasoline | Demand | Drops | Prices | Rise

MasterCard: Retail Gasoline Demand Drops as Prices Rise

Tuesday, 05 Apr 2011 03:26 PM

U.S. retail gasoline demand fell last week in all regions of the country as prices rose, MasterCard Advisors' SpendingPulse report showed Tuesday.

Average gasoline demand dropped 1.2 percent week-over-week to 9.19 million barrels per day, MasterCard said. Demand dipped 3.6 percent year-on-year, down for the fifth consecutive week.

The year-on-year decline might have been skewed since the Easter Holiday, during which driving demand increases, came in the first week of April last year, MasterCard said.

Retail gasoline prices rose 5.00 cents from the previous week to $3.61 a gallon, an increase of 28.9 percent from a year earlier, driven by volatility in oil markets amid the crisis in the Middle East, the report showed.

Driving demand declined year-on-year in all U.S. regions and fell week-on-week everywhere except the Gulf Coast, which posted no change.

Over the latest four weeks, U.S. gasoline consumption fell 1.4 percent year-on-year.

MasterCard Advisors, a unit of MasterCard Inc, estimates retail gasoline demand based on aggregate sales activity in the MasterCard payments system coupled with estimates for other payment forms including cash and checks.

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U.S. retail gasoline demand fell last week in all regions of the country as prices rose, MasterCard Advisors' SpendingPulse report showed Tuesday.Average gasoline demand dropped 1.2 percent week-over-week to 9.19 million barrels per day, MasterCard said. Demand dipped 3.6...
MasterCard,Retail,Gasoline,Demand,Drops,Prices,Rise
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2011-26-05
Tuesday, 05 Apr 2011 03:26 PM
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