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US gasoline demand up in latest week -MasterCard
May 30, 2012 / 6:03 PM / 5 years ago

US gasoline demand up in latest week -MasterCard

NEW YORK, May 30 (Reuters) - U.S. gasoline demand in the week before Memorial Day rose from the previous week, as consumers pumped the fuel ahead of the long holiday weekend that launches the peak summer driving season, MasterCard said in its weekly Spending Pulse report on Wed nesday.

In the week to May 25, gasoline demand in the United States rose 3 percent from the previous week, but was 1.1 percent lower than in the same period a year ago.

MasterCard’s data covers the Friday before Memorial Day.

Gasoline prices fell 4 cents last week to $3.69 a gallon, 3.4 percent lower than last year.

The four-week moving average for demand posted its 62nd straight decline, down 2.8 percent compared with the same period a year earlier.

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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