Retail sales of gasoline in the US totaled 66.201 million gallons in the survey week ended December 23, up 7.7% from the prior week and a 1.6% decrease from the year-ago period, MasterCard Advisors said Wednesday.
"The year-over-year decline this past week was only down 1.6% compared to the consistent 4-5% observed in previous weeks," MasterCard Advisors analyst John Gamel said in weekly commentary.
The rolling four-week average was down 3.6%, with an average 63.104 million barrels pumped, MasterCard Advisors said.
An average 9.457 million b/d was pumped in the week ended December 23, up from 8.78 million b/d for the week prior, MasterCard Advisors said.
"Keep in mind that holidays distort the year-over-year picture and therefore the trending of the four-week moving average is worth observing as well," Gamel said. "Unlike last year, some of the gasoline consumption from the holiday travel could spill into this coming week as the Christmas holiday was one day later this year."
"Overall, cautiously positive news in the labor market as well continued week-over-week declines for gasoline prices are both positive for gasoline demand," he added.
The average retail price of regular gasoline was down 4 cents on the week at $3.23/gal, which is 7.7% higher than a year ago, MasterCard Advisors said.
