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PURCHASE, N.Y. -- MasterCard Advisors LLC, the professional services arm of MasterCard Worldwide, released its Spending Pulse U.S. Gasoline Demand Report, the first report that provides detailed information on the total amount of gasoline the U.S. pumps each week, The Associated Press reported.
Released each Tuesday, it contains industry specific information representing a weekly snapshot of U.S. demand for gasoline based on aggregate payment volume over the MasterCard payments network, coupled with estimates of total purchases across other payment forms including cash and check, according to the report.
"Traditional gasoline data and reports focus on the supply side of the equation," says Michael McNamara, vice president of the SpendingPulse data service for MasterCard Advisors. "Our Spending Pulse U.S. Gasoline Demand Report is the first report that is in position to provide statistically significant views of the demand side of the gasoline equation. Now the markets will have comprehensive demand information each Tuesday to compliment the inventory data that is released each Wednesday."
The Spending Pulse U.S. Gasoline Demand Report captures multiple data points that produce total estimates of both the total number of barrels the U.S. pumps each week as well as average price per gallon data across the country, the report stated. It also provides a more comprehensive view of gasoline consumption and consumer behavior than traditional gas consumption surveys focusing on the supply side of the story, according to the company.
The report is designed to provide government policy makers, energy markets and business leaders with a more comprehensive and timely view of how demand for gasoline changes each week in the United States.