Bloomberg News

Gasoline Demand Rose 1.3% in U.S. Last Week, MasterCard Says

January 24, 2012

Jan. 24 (Bloomberg) -- U.S. gasoline demand rose 1.3 percent in the seven days ending Jan. 20, the second consecutive week-over-week increase, MasterCard Inc. said.

Drivers bought 8.48 million barrels a day of gasoline, up from 8.37 million the prior week, according to MasterCard’s SpendingPulse report.

Fuel demand fell below year-earlier levels for the 21st consecutive time last week, declining 5.2 percent from 2011. The biggest decline was in the Lower Atlantic region where gasoline consumption dropped 6.7 percent from a year earlier.

Gasoline use over the previous four weeks was 3.9 percent below the 2011 period, the 44th consecutive decline in that measure. MasterCard’s data goes back to July 2004.

The average pump price was unchanged at $3.39 a gallon last week, after rising the prior three weeks. Prices were 9.4 percent higher than a year earlier.

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: Charlotte Porter, David Marino

To contact the reporter on this story: Barbara J Powell in Dallas at bpowell4@bloomberg.net

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


The Good Business Issue
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus