Gasoline demand dips even as cost falls: MasterCard

Energy Reuters

NEW YORK (Reuters) - Retail gasoline demand fell last week versus a year earlier, as prices dropped for a second straight week but stayed above 2010 levels, a report by MasterCard Advisors' SpendingPulse showed on Tuesday.

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Average weekly gasoline demand fell 2 percent in the week to May 20 compared with the same period a year ago, the report said.

Demand fell 1.4 percent compared to the previous week.

Retail gasoline prices dipped 5.00 cents to an average $3.92 a gallon last week, but were 38.5 percent higher than a year earlier, MasterCard said.

Over the latest four weeks, average U.S. gasoline consumption fell 1.6 percent from year-earlier levels, the ninth straight drop.

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.

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(Reporting by Selam Gebrekidan; Editing by Dale Hudson)

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