NEW YORK, June 5 (Reuters) – U.S. retail gasoline demand
fell last week as a dismal economic outlook weighed on fuel
consumption, data from MasterCard’s SpendingPulse report showed
on Tuesday.
Demand fell 2 percent in the week to June 1, compared with
year-ago levels, and was 3.7 percent lower than the previous
week, MasterCard said.
Gasoline sales during the U.S. Memorial Day weekend from May
25 to May 28 were 1.7 percent lower than a year earlier, the
report showed.
However, retail gasoline prices were 4.2 percent cheaper
than last year, selling at an average $3.63 a gallon at gas
stations across the nation.
The four-week moving average for demand fell for the 63rd
consecutive week, down 1.9 percent from a year earlier. This was
the smallest four-week average decline since the week to Sept.
16, 2011 , MasterCard added.
MasterCard Advisors, a unit of MasterCard Inc,
estimates retail gasoline demand based on aggregate sales in the
MasterCard payments system coupled with estimates for other
payment forms including cash and checks.
