Bloomberg News

U.S. Gasoline Demand Declines 2.9 Percent, MasterCard Says

October 04, 2011

Oct. 4 (Bloomberg) -- U.S. gasoline consumption slid 2.9 percent from a year earlier, according to MasterCard Inc.

Motorists bought 8.82 million barrels a day in the week ended Sept. 30, the second-biggest payments network company said in its SpendingPulse report. That’s down from 9.08 million a year earlier.

The average pump price fell 10 cents to $3.46 a gallon, 29 percent higher than a year earlier.

Averaged over four weeks, gasoline use was 2.5 percent below a year earlier. It was the 28th week in a row that demand fell on that basis, according to SpendingPulse data.

Fuel consumption in the period ended Sept. 30 was up 0.9 percent from the prior week, according to the report.

Gasoline demand peaked this year at 9.56 million barrels a day in the week ended July 1 as motorists filled their tanks before the July 4 holiday weekend. The lowest level of consumption occurred in the week ended Feb. 11 when consumers bought 8.47 million barrels a day.

The report from Purchase, New York-based MasterCard is assembled by MasterCard Advisors, the company’s consulting arm. The information is based on credit-card swipes and cash and check payments at about 140,000 U.S. gasoline stations.

Visa Inc. is the biggest payments network company by transactions processed.

--Editors: David Marino, Charlotte Porter

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net


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