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