Tags: Prices | Gasoline | Demand | high

High Prices Depress U.S. Gasoline Demand, MasterCard Says

Tuesday, 03 April 2012 02:02 PM

Average U.S. demand for gasoline fell slightly last week, down 0.7 percent from the week before, as the price of a gallon approached $4 and restrained seasonal demand, MasterCard said in its weekly Spending Pulse report.

Gasoline demand in the last week of March fell 3.5 percent compared with the same week last year, MasterCard said.

A gallon of gasoline at the pump cost $3.92 last week, 4 cents higher than the previous week and 8.6 percent more expensive than a year earlier.

The four-week moving average for demand dropped for the 54th straight week, down 5.9 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.

© 2018 Thomson/Reuters. All rights reserved.

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Tuesday, 03 April 2012 02:02 PM
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