TRANSPORTATION

U.S. gasoline consumption hits 2012 high

BLOOMBERG FILE PHOTO/ANDREW HARRER
A GASOLINE pump stands at a Royal Dutch Shell Plc filling station in Fairfax, Virginia, U.S., on Monday, March 14, 2011.
Posted 5/22/12

DALLAS - U.S. gasoline demand rose 1.3 percent last week to the highest level since December as drivers paid the lowest average prices in 12 weeks, according to MasterCard Inc.

Drivers bought 9.09 million barrels a day of gasoline in the week ended May 18, up from 8.98 million the week before, MasterCard’s SpendingPulse report showed. That’s the most fuel purchased since the week ended Dec. 23.

The average pump price declined 3 cents in the past week to $3.73 a gallon, the lowest level since Feb. 24. Prices are 4.8 percent below a year earlier.

Fuel consumption was 0.9 percent below the year-earlier level, the 38th straight decline in that measure.

“This past week’s year-over-year decline was the smallest since the week ending Aug. 26,” John Gamel, a gasoline analyst and director of economic analysis for SpendingPulse, said in the report. “Prices have fallen over 20 cents the past six weeks as we approach the Memorial Day holiday and demand has picked up.

Fuel use over the previous four weeks fell 3.9 percent below the same period in 2011, a record 61st consecutive drop in that measure. That was the smallest decline since Jan. 20, Gamel said.

The highest prices were on the West Coast, where the average rose 12 cents to $4.26 a gallon. The lowest prices were on the Gulf Coast, where a gallon declined 7 cents to $3.55.

The report from Purchase, New York-based MasterCard is assembled by MasterCard Advisors, the company’s consulting arm. The information is based on credit-card swipes and cash and check payments at about 140,000 U.S. gasoline stations.

Visa Inc. is the biggest payments network company by transactions processed.

No comments on this story | Add your comment
Please log in or register to add your comment
Calendar
PBN Hosted
Events

Only a few seats remain for PBN's Manufacturing Awards Dinner and Ceremony, Thursday, April 24th, at the Bryant University Bello Center. Don't hesitate. Register today!
  • Business Women
    Accomplished. Confident. Wicked Smart. Nominate women you know who deserve speci ...
  • 40 Under Forty
    It's the 10th Anniversary of 40 Under Forty, and PBN is planning a special event ...
  • Healthiest Employers
    Enrollment now open for the 2014 Healthiest Employers Program. Please take a mom ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News