U.S. retail gasoline demand rose sharply last week, by 4.6 percent, buoyed by holiday travel, MasterCard Advisors’ SpendingPulse report showed Tuesday.
Average gasoline demand rose by 425,000 barrels-per-day, to 9.613 million, in the week to Dec. 24.
Demand was 3.9 percent higher than la year earlier.
Over the latest four weeks, U.S. gasoline consumption was 0.4 percent lower year-over-year.
Average retail gasoline prices went up 2 cents, to $3 a gallon, 16.3 percent higher than a year earlier and the highest level seen since October 2008, 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.
Maybe the usage spiked because like me I said the hell with conserving!!! They have been raising the price of gas needlessly forever and a day. I have done all i can to conserve on energy from things at home to planning every trip in the car. All I’ve gotten in return is higher fuel prices whether its heating or the gas that makes my car go!! HIGHER AND HIGHER, so how HIGH can they GO?