November 15, 2011 / 7:01 PM / 8 years ago

U.S. gasoline demand falls with high prices-MasterCard

Nov 15 (Reuters) - U.S. retail gasoline demand fell sharply last week as prices at the pump remained much higher than last year, MasterCard said in its weekly SpendingPulse report on Tuesday.     Demand dropped by 4.4 percent in the week to Nov. 11 compared with year-ago levels. Gasoline prices, unchanged from last week, were 19.9 percent higher than a year ago at $3.43 a gallon, the report said.     Demand rose 1.5 percent from the previous week, MasterCard said.     The four-week moving average for demand fell for the 34th consecutive week, down 3.4 percent compared with year-ago levels.     MasterCard Advisors, a unit of MasterCard Inc (MA.N), estimates retail gasoline demand based on aggregate sales in the MasterCard payments system coupled with estimates for other payment forms including cash and checks.  (Reporting by Edward McAllister; Editing by Marguerita Choy)

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