UPDATE 1-US gasoline demand up last week as prices fall -MasterCard

Thu Jan 24, 2013 10:41am EST

NEW YORK Jan 24 (Reuters) - U.S. retail gasoline demand rose 2.7 percent last week compared with the week before as the price per gallon fell, MasterCard said in its weekly SpendingPulse report on Thursday.

A gallon of gasoline sold for $3.31 per gallon on average last week, 1 cent cheaper than in the week to Jan. 11 and 2.4 percent lower than a year earlier, MasterCard said.

Demand, however, was 1.3 percent lower than a year ago, according to the data. The four-week moving average for demand also fell last week, down 1.9 percent from year-ago 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.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.