May 3, 2011 / 6:05 PM / in 7 years

US retail gasoline demand down 1 pct - MasterCard

 NEW YORK, May 3 (Reuters) - U.S. retail gasoline demand fell last week as prices continued to climb, MasterCard Advisors’ SpendingPulse report showed on Tuesday.
 Average weekly gasoline demand dropped 1 percent from the previous week, MasterCard said.
 Demand dipped 0.6 percent from the same period a year earlier. The year-on-year decline shrank for the second week in a row, which may indicate the demand depression is leveling off, MasterCard added.
 Retail gasoline sold for an average $3.89 per gallon last week, up 4.00 cents from the previous week, the report showed.
 Over the latest four weeks, average U.S. gasoline consumption fell 1.2 percent from year-earlier levels.
 MasterCard Advisors, a unit of MasterCard Inc (MA.N), estimates retail gasoline demand based on aggregate sales in the MasterCard payments system coupled with estimates for other payment forms including cash and checks.  (Reporting by Selam Gebrekidan; Editing by Dale Hudson)   

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