Tue Nov 24, 2009 2:00pm EST
NEW YORK, Nov 24 (Reuters) - U.S. retail gasoline demand slipped 1.6 percent from last week as stormy weather depressed demand in some regions of the country, according to a MasterCard SpendingPulse report released on Tuesday.
The Gulf Coast, New England, and Midwest regions posted the largest decreases, mainly due to weather-related factors, according to Michael McNamara, vice president of research and analysis at MasterCard Advisors.
Gasoline demand averaged 9.076 million barrels per day during the week ending Nov. 20, down 1.6 percent from the previous week, according to the weekly report.
Demand for gasoline was about 1.4 percent lower than during the same period last year.
However, the four-week moving average of U.S. gasoline consumption climbed 1.6 percent year-over-year. Year-to-date, gasoline consumption is up about 0.6 percent from the same period a year ago.
Retail prices for gasoline dipped 2 cents to a national average of $2.62 a gallon last week, 30 percent higher than 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) ((rebekah.kebede@thomsonreuters.com; Reuters Messaging: rebekah.kebede.reuters.com@reuters.net; 646 223 6057;)) ((For help: Click "Contact Us" in your desk top, click here [HELP] or call 1-800-738-8377 for Reuters Products and 1-888-463-3383 for Thomson products; For client training: training.americas@thomsonreuters.com ; +1 646-223-5546))
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Source: http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSNYS00756420091124
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