US weekly gasoline demand down 2.7 pct-MasterCard

NEW YORK, April 27 (BestGrowthStock) – U.S. retail gasoline demand
dropped 2.7 percent in the week to April 23 from the previous
week, according to a MasterCard SpendingPulse report released
on Tuesday.

Gasoline demand averaged 9.213 million barrels per day last
week, the weekly survey showed.

Year-on-year, U.S. gasoline demand fell 1.9 percent, the
SpendingPulse report said.

Over the last four weeks, consumption of the motor fuel in
the world’s top oil consumer increased by an average 0.4
percent on a year-over-year basis.

The national average retail price for gasoline was
unchanged at $2.85 per gallon, but was up 38.3 percent from
year-ago levels.

The average price during the weeks to April 16 and April 23
are the highest average gasoline prices since October 2008,
MasterCard said.

MasterCard Advisors estimate retail gasoline demand based
on aggregate sales activity in the MasterCard payments system,
along with estimates for all other payment forms, including
cash and checks.

MasterCard Advisors is a unit of MasterCard Inc (MA.N: ).

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(Reporting by Rebekah Kebede; Editing by Carole Vaporean)

US weekly gasoline demand down 2.7 pct-MasterCard