Gasoline Use and Prices Rise in U.S. (Again, Still, WTF)

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NEW YORK, March 23, 2010; Edward McAllister writing for Reuters reported that U.S. retail gasoline demand rose 1.4 percent in the week to March 19, according to a MasterCard SpendingPulse report released on Tuesday.

Gasoline demand averaged 9.656 million barrels per day last week, up from 9.523 million the previous week, the weekly survey showed.

Year-on-year, gasoline demand rose by 1.8 percent for the week.

Consumption of the motor fuel in the world's top oil consumer over the last four weeks averaged 2.5 percent higher year-over-year.

The national average retail prices for gasoline rose 4 cents over the week to $2.80 per gallon, up 45 percent from 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