By JOHN M. BIERS
US gasoline consumption rose by 4.5% to 8.95 million bpd for
the week ending Dec. 21 compared with the prior week, according
to a SpendingPulse report released Wednesday by
The increase came as gasoline prices sank 15 cents/gal over the
Dec. 7-21 period. Gasoline prices are now at their lowest level
in a year and are flat compared with last year's level, said
John Gamel, gasoline analyst for MasterCard Advisors
Gasoline consumption has declined compared
with the same period of 2011. SpendingPulse said year-on-year
gasoline consumption was down 5.4% for the week ending Dec. 21
to 8.950 million bpd.
"For the two-week period ending Friday,
December 21st, we observed, over these past two weeks, a
continuation of the year-long year-over-year declines," Mr.
Mr. Gamel said year-over-year comparisons may
be skewed because this year's Christmas holiday driving may
have been pushed into the prior weekend due to the Tuesday
holiday and would show up in a subsequent report.
SpendingPulse is a macroeconomic indicator
that reports on national retail sales and is based on aggregate
sales activity in the MasterCard payments network, coupled with
estimates for all other payment forms, including cash and
check. SpendingPulse from MasterCard doesn't represent
MasterCard financial performance.
Dow Jones Newswires