NEW YORK, March 9 (Reuters) - U.S. retail gasoline demand rose 2.5 percent in the week to March 5, according to a MasterCard SpendingPulse report released on Tuesday.
Gasoline demand averaged 9.619 million barrels per day last week, up from 9.385 million the previous week, the weekly survey showed.
Year-on-year, gasoline demand rose by 5.4 percent for the week.
The increase in the week-on-week consumption may have been driven in part by a storm on the West Coast, which disrupted gasoline pumping patterns, Michael McNamara, VP Research and Analysis for MasterCard Advisors SpendingPulse said.
"I might pay a little more attention to the four-week moving average," he said.
Consumption of the motor fuel in the world's top oil consumer over the last four-weeks averaged 1.2 percent higher year-on-year.
The national average retail prices for gasoline rose 3 cents over the week to $2.70 per gallon, up nearly 40 percent from year-ago levels.
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 (MA.N). (Reporting by Rebekah Kebede; Editing by Marguerita Choy)
Source: http://www.reuters.com/article/idUSNLL9EE62H20100309
Gasoline demand averaged 9.619 million barrels per day last week, up from 9.385 million the previous week, the weekly survey showed.
Year-on-year, gasoline demand rose by 5.4 percent for the week.
The increase in the week-on-week consumption may have been driven in part by a storm on the West Coast, which disrupted gasoline pumping patterns, Michael McNamara, VP Research and Analysis for MasterCard Advisors SpendingPulse said.
"I might pay a little more attention to the four-week moving average," he said.
Consumption of the motor fuel in the world's top oil consumer over the last four-weeks averaged 1.2 percent higher year-on-year.
The national average retail prices for gasoline rose 3 cents over the week to $2.70 per gallon, up nearly 40 percent from year-ago levels.
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 (MA.N). (Reporting by Rebekah Kebede; Editing by Marguerita Choy)
Source: http://www.reuters.com/article/idUSNLL9EE62H20100309
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