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MasterCard: US Gasoline Demand Continues to Fall

Tuesday, 27 March 2012 02:07 PM

U.S. average gasoline demand fell 1.5 percent last week as the price of a gallon approached the $4 a gallon mark, MasterCard said in its weekly Spending Pulse report on Tuesday.

Gasoline consumption in the week to March 23 was also 7 percent lower than with the same period a year earlier, MasterCard said.

A gallon of gasoline cost $3.88 last week, 4 cents higher than the previous week and 9 percent more expensive than a year ago.

The four-week moving average for demand dropped for the 53rd straight week, down 6.6 percent compared with last year, MasterCard data showed.

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.

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Tuesday, 27 March 2012 02:07 PM
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