Tags: High | US | Gasoline | Prices

MasterCard: High US Gasoline Prices Hit Demand Again

Tuesday, 13 March 2012 02:01 PM

U.S. retail gasoline demand fell sharply last week as high prices kept motorists away from the pump, MasterCard said in its weekly SpendingPulse report on Tuesday.

Retail gasoline demand fell 7.2 percent in the week to March 9 from the same week last year, as prices rose again. Demand fell 1.4 percent from the previous week.

Prices were up 2 cents from the previous week, to $3.77 per gallon, which was up 6.8 percent from the same week in 2011.

The four-week moving average for demand dropped 6.8 percent from last year, the 51st straight week that the moving average declined.

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

© 2021 Thomson/Reuters. All rights reserved.

Tuesday, 13 March 2012 02:01 PM
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