U.S. Gasoline Demand Fell 1.6% Last Week, MasterCard Says
Gasoline demand was 8.5 million barrels a day last week, MasterCard Inc. (MA) said, down 1.6 percent from the previous week.
The data from MasterCard’s SpendingPulse report is for the week ended Feb. 1. Consumption the prior week was 8.64 million barrels a day, up 3.2 percent from the seven days ended Jan. 18.
The four-week average for the week ended Feb. 1 was 0.1 percent higher than a year earlier. It’s been down from the previous year every week except one since March 18, 2011.
The average pump price rose 8 cents in the past week to $3.41 a gallon, 1.7 percent lower 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. (V) is the biggest payments network company by transactions processed.
To contact the reporter on this story: Dan Murtaugh in Houston at dmurtaugh@bloomberg.net
To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net
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