U.S. gasoline demand rises in last week

By Reuters
Posted Sep. 21, 2010 at 1:09 p.m.

U.S retail gasoline demand on average rose 1.9 percent last week from the previous week, as consumption rebounded from the post Labor day slump, according to the SpendingPulse report released Tuesday by MasterCard Advisors.
U.S. gasoline demand averaged 9.006 million barrels per day, up from 8.837 the previous week, the SpendingPulse report said.

Year over year, weekly demand fell 0.9 percent.

Over the latest four weeks, gasoline consumption in the world’s top oil consumer remained unchanged from a year earlier.

Average U.S. retail gasoline prices rose 5 cents to $2.73 a gallon in the week to Sept. 17, according to MasterCard.

MasterCard Advisors estimates retail gasoline demand based on aggregate sales activity in the MasterCard payments system coupled with estimates for all other payment forms including cash and checks. MasterCard Advisors is a unit of MasterCard Inc.

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