Bloomberg News

U.S. Gasoline Demand Rises 4.5% Last Week, MasterCard Says

December 26, 2012

Gasoline demand was 8.95 million barrels a day last week, MasterCard Inc. (MA:US) said, up 4.5 percent from the previous week.

The data from MasterCard’s SpendingPulse report is for the week ended Dec. 21. Consumption the prior week was 8.56 million barrels a day, up 0.5 percent from the seven days ended Dec. 7.

The four-week average for the week ended Dec. 21 was 3.3 percent below a year earlier. It’s been down from the previous year every week except one since March 18, 2011. Year-to-date fuel consumption is 3.6 percent below the same period in 2011.

The average pump price fell 8 cents in the past week to $3.23 a gallon, unchanged from a year earlier. Prices reached a year-to-date peak of $3.94 on April 6.

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. (V:US) is the biggest payments network company by transactions processed.

To contact the reporter on this story: Richard Stubbe in Houston at rstubbe1@bloomberg.net

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


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Companies Mentioned

  • MA
    (MasterCard Inc)
    • $74.35 USD
    • 0.99
    • 1.33%
  • V
    (Visa Inc)
    • $209.4 USD
    • 0.58
    • 0.28%
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