Gasoline demand down last week year over year: MasterCard

NEW YORK (Reuters) - U.S. retail gasoline demand fell last week compared with a year ago as prices remained higher than levels seen in the same period of 2010, MasterCard said in its weekly SpendingPulse report on Wednesday.

Average gasoline demand in the week to July 1 dipped 0.9 percent year-on-year, the report showed.

A gallon of gasoline sold for $3.55 on average in the United States last week, 7 cents cheaper than the week before. Each gallon, however, was 29.6 percent more expensive than a year earlier.

Gasoline demand last week rose by a sharp 2.4 percent from the week before, boosted by the Independence Day holiday weekend, when driving demand usually climbs.

Over the latest four weeks, average U.S. gasoline consumption fell 0.5 percent from year-earlier levels.

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.

The report was delayed by a day this week because of the Independence Day holiday.

(Reporting by Selam Gebrekidan; Editing by Dale Hudson)