MasterCard's SpendingPulse Shows US Gas Demand Fell 4.7% Last Week
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MasterCard's (NYSE: MA) weekly SpendingPulse report showed that U.S. gasoline demand fell 4.7% for the week ended September 26, marking the 23rd consecutive weekly decline. On average, U.S. motorists purchased 9.083 million barrels of gas a day last week, which compares to 9.526 million in the same period last year.
According to the MasterCard report, fuel consumption rose 4.1% higher than its reading from the prior week, but on a year-to-date basis, consumption is down 2.8% from a year earlier. The report also notes that the national average pump price for regular gasoline fell a penny from the prior week to $3.83 per gallon.
MasterCard Incorporated, together with its subsidiaries, provides transaction processing and related services to customers principally in support of their credit, deposit access, electronic cash and automated teller machine payment card programs, and travelers cheque programs.
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