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GasBuddy News Article


US gasoline demand up,price below $2:SpendingPulse
Wednesday, December 03, 2008
Reuters -- NEW YORK, Dec 2 (Reuters) - U.S. retail gasoline demand rose last week as the average price for gasoline dropped below $2 per gallon, according to a MasterCard report released on Tuesday.

"We are continuing to see a significant lift from where we were three, four weeks ago in terms of where pumping is. It has pretty much coincided with prices continuing to fall," said Michael McNamara, vice president of research and analysis at MasterCard Advisors.

American motorists pumped an average of 9.359 million barrels per day in the week that ended Nov. 28, up 1.7 percent from the previous week as average gasoline prices dropped 16 cents to $1.85 per gallon, the SpendingPulse report by MasterCard showed.


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JT
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Message Posted: 12/3/2008 9:03:33 AM  Ignore JT Report Abuse
Wednesday, December 03, 2008
Reuters -- NEW YORK, Dec 2 (Reuters) - U.S. retail gasoline demand rose last week as the average price for gasoline dropped below $2 per gallon, according to a MasterCard report released on Tuesday.

"We are continuing to see a significant lift from where we were three, four weeks ago in terms of where pumping is. It has pretty much coincided with prices continuing to fall," said Michael McNamara, vice president of research and analysis at MasterCard Advisors.

American motorists pumped an average of 9.359 million barrels per day in the week that ended Nov. 28, up 1.7 percent from the previous week as average gasoline prices dropped 16 cents to $1.85 per gallon, the SpendingPulse report by MasterCard showed.

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REPLIES (newest first)
Smoke3ater
Sophomore Author
Winnipeg

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Message Posted: 12/18/2008 12:59:20 PM  Ignore Smoke3ater Report Abuse
Cutbacks in Production + Increasing Demand = Rising Pump Prices

Bet your bottom dollar this is gonna happen.
frede2
Champion Author
Texas

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Message Posted: 12/5/2008 8:52:37 AM  Ignore frede2 Report Abuse
it is nice to fill up for $25 rather than $60 nowadays
SmileyCoyote
Rookie Author
Tucson

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Message Posted: 12/4/2008 6:06:14 PM  Ignore SmileyCoyote Report Abuse
There's a natural increase in fuel usage during this time of year simply because it's the Christmas Shopping Season. Although many reports state that sales are down this year overall, the fact is that more people are out driving around to shop for Christmas, whether they are spending less on presents this year, or not.
Jarod13
Veteran Author
Virginia

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Message Posted: 12/4/2008 11:55:39 AM  Ignore Jarod13 Report Abuse
Most stations I've seen in Eastern Prince William County, VA are below $1.60 a gallon. There's a few between $1.70 - $2.15. To continue to see lower prices, we must continue to conserve!
murushi
Sophomore Author
Ontario

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Message Posted: 12/4/2008 10:54:09 AM  Ignore murushi Report Abuse
Conserve!
almostrice
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Houston

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Message Posted: 12/4/2008 10:19:43 AM  Ignore almostrice Report Abuse
I do not see where more gas is being used.
Wonderdaddie
Sophomore Author
Alabama

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Message Posted: 12/4/2008 9:46:09 AM  Ignore Wonderdaddie Report Abuse
More from the liberal left wing media. This will make investors take notice when this kind of crap is broadcast to the nation. The price of oil will rise and long as propaganda is being spread.
Wonderdaddie
Sophomore Author
Alabama

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Message Posted: 12/4/2008 9:39:18 AM  Ignore Wonderdaddie Report Abuse
its has been roughly the same here for the past few days
MajorSteve
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Oklahoma City

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Message Posted: 12/4/2008 9:36:44 AM  Ignore MajorSteve Report Abuse
Dropped again here today to 1.49!
chrsperr
Sophomore Author
Wyoming

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Message Posted: 12/4/2008 9:11:06 AM  Ignore chrsperr Report Abuse
Got to remember to conserve all the time.
EXTREMESNOW
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Oregon

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Message Posted: 12/4/2008 9:08:40 AM  Ignore EXTREMESNOW Report Abuse
I for one am not going back to old driving habits. Have to save where I can.
ILANGE9
Sophomore Author
Illinois

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Message Posted: 12/4/2008 9:03:31 AM  Ignore ILANGE9 Report Abuse
Conserve. We can't let the low prices lure us back to our old ways. Investment in new technologies will be cut back until prices go back up and make them profitable.
TrixieMugsy
Champion Author
Colorado Springs

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Message Posted: 12/4/2008 9:03:21 AM  Ignore TrixieMugsy Report Abuse
We will create our own destiny....
joel27nc
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Raleigh

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Message Posted: 12/4/2008 9:03:05 AM  Ignore joel27nc Report Abuse
$1.62 here
joel27nc
Champion Author
Raleigh

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Message Posted: 12/4/2008 9:02:53 AM  Ignore joel27nc Report Abuse
Keep conserving, PLEASE!
Bigamus
Sophomore Author
Kansas

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Message Posted: 12/4/2008 9:02:41 AM  Ignore Bigamus Report Abuse
Soon enough we will drive the price back up again.
hank1326
All-Star Author
Los Angeles

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Message Posted: 12/4/2008 9:02:13 AM  Ignore hank1326 Report Abuse
Ditto to Dragoniar. Keep on conserving, more than ever to lower our demand for gas further.
spheremaker1
All-Star Author
Arizona

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Message Posted: 12/4/2008 9:01:19 AM  Ignore spheremaker1 Report Abuse
DRIVE LESS.. DRIVE LESS... DRIVE LESS.... please
bobmcl2006
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Pittsburgh

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Message Posted: 12/4/2008 9:01:18 AM  Ignore bobmcl2006 Report Abuse
From the article: 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.

Cash sales can fog this report in any given week.
roadrunnerMO
All-Star Author
Kansas

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Message Posted: 12/4/2008 9:00:56 AM  Ignore roadrunnerMO Report Abuse
Continue to conserve. That will keep demand under control.
Dragoniar
Sophomore Author
Grand Rapids

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Message Posted: 12/4/2008 8:59:23 AM  Ignore Dragoniar Report Abuse
More tactics to raise prices.
SUPPER
Sophomore Author
San Bernardino

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Message Posted: 12/4/2008 8:59:05 AM  Ignore SUPPER Report Abuse
ha
SeerLV
All-Star Author
Las Vegas

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Message Posted: 12/4/2008 8:57:34 AM  Ignore SeerLV Report Abuse
Demand is still low as evidenced by the falling price
cdaisey
Veteran Author
Maine

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Message Posted: 12/4/2008 8:57:14 AM  Ignore cdaisey Report Abuse
Bring back regulation
10pennypincher
All-Star Author
St. Louis

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Message Posted: 12/4/2008 8:57:05 AM  Ignore 10pennypincher Report Abuse
sadly the fools will buy more fuel and run the price right back up!!! please cut back on your fuel consumption!!! conserve. drive less!
throttle
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Maryland

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Message Posted: 12/4/2008 8:56:31 AM  Ignore throttle Report Abuse
Here we go again!
jaysun420
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Kansas City

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Message Posted: 12/4/2008 8:55:42 AM  Ignore jaysun420 Report Abuse
old news...
jdbgn
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Los Angeles

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Message Posted: 12/4/2008 8:55:30 AM  Ignore jdbgn Report Abuse
These people actually get paid for writing such articles. Good money at that.
Wish I belonged to the good old boys club, then I wouldn't have to work for a living.
dagas1
Veteran Author
Orange County

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Message Posted: 12/4/2008 8:54:44 AM  Ignore dagas1 Report Abuse
With demand up can a price increase be far behind?
yetanothercat
Sophomore Author
Los Angeles

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Message Posted: 12/4/2008 8:54:29 AM  Ignore yetanothercat Report Abuse
Just keep conserving.
VTROCK
Sophomore Author
Detroit

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Message Posted: 12/4/2008 8:54:02 AM  Ignore VTROCK Report Abuse
It was a holiday week with low gas prices and demand only went up 1.7 percent? We must be doing a pretty good job of conserving.
BartBuzz
Veteran Author
Atlanta

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Message Posted: 12/4/2008 8:53:42 AM  Ignore BartBuzz Report Abuse
That's to be expected. When prices drop, we can spend more. Let's just keep our demand reasonable. We can still conserve by combining trips and minimizing "cruising".
timwil
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Arkansas

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Message Posted: 12/4/2008 8:52:10 AM  Ignore timwil Report Abuse
old news
Yonkers111
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Scranton

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Message Posted: 12/4/2008 8:51:56 AM  Ignore Yonkers111 Report Abuse
Dumb article refers to a holiday weekend. This is what matters; "The four-week moving average for gasoline demand dropped 2.1 percent from year-ago levels."

jjulson
All-Star Author
North Dakota

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Message Posted: 12/4/2008 8:51:18 AM  Ignore jjulson Report Abuse
Thanksgiving have anything to do with this?
napermike79
All-Star Author
Twin Cities

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Message Posted: 12/4/2008 8:51:03 AM  Ignore napermike79 Report Abuse
we still need to get self sufficient for energy - that conversation has been forgotten already
Chazzer
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Nevada

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Message Posted: 12/4/2008 8:50:19 AM  Ignore Chazzer Report Abuse
Let's not stop developing alternate fuels and expanded drilling for oil.
seville04
Veteran Author
Albuquerque

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Message Posted: 12/4/2008 8:48:41 AM  Ignore seville04 Report Abuse
economy down=price drop.
armstrmb
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Houston

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Message Posted: 12/4/2008 8:47:46 AM  Ignore armstrmb Report Abuse
Demand up, price down? Can you spell "price increase coming?"
eaglev
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Oklahoma City

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Message Posted: 12/4/2008 8:47:03 AM  Ignore eaglev Report Abuse
We still need to start drilling. They were to sell tracks in UTAH, but they keep cutting back the sections to drill because of the enviromentelist. We are at the mercy of the people who hate us if we do not drill for our own oil!
Zinnoil
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Illinois

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Message Posted: 12/4/2008 8:45:52 AM  Ignore Zinnoil Report Abuse
Holiday weekend, duh.
JPGKC
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Tampa

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Message Posted: 12/4/2008 8:45:16 AM  Ignore JPGKC Report Abuse
Give me a break, this is news during a holiday???
Lukus
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Halifax

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Message Posted: 12/4/2008 8:44:12 AM  Ignore Lukus Report Abuse
Demand would normally be up over the US Thankgiving period.
stadlgi
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Akron

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Message Posted: 12/4/2008 8:44:01 AM  Ignore stadlgi Report Abuse
We haven't learned a thing. When the prices were in the rafters, we
moaned & complained and bit the bullet, cutting our wasteful driving
practices to the bone. Now that we have a little breathing space, what
do we do? We listen to the dealerships, buy the largest SUV we can
find and drive around showing it off non-stop, day & night - by the
score! Now, when the cycle comes back around, we will be back to
moaning & complaining and we will have no one to blame but ourselves
for NOT changing our ways nor our thinking until it is way late.
Dennis783
Champion Author
Wisconsin

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Message Posted: 12/4/2008 8:43:27 AM  Ignore Dennis783 Report Abuse
good excuse to raise the price?
94Vol
Rookie Author
Nashville

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Message Posted: 12/4/2008 8:42:58 AM  Ignore 94Vol Report Abuse
We need to conserve as much as possible but I'm sure most of that was because of turkey holiday!
TeachR06
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Raleigh

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Message Posted: 12/4/2008 8:39:13 AM  Ignore TeachR06 Report Abuse
Probably travel over the holidays has increased demand. We still need conservation because this problem isn't going away soon.
rmcknightmcp
Sophomore Author
Austin

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Message Posted: 12/4/2008 8:39:11 AM  Ignore rmcknightmcp Report Abuse
about time for holiday gouging
FordF2502001
Veteran Author
Mississippi

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Message Posted: 12/4/2008 8:38:41 AM  Ignore FordF2502001 Report Abuse
we finally filled our tanks! just wait till January when the overspent consumer can't afford gas, like we barely can now.
Wizrd03
Sophomore Author
Illinois

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Message Posted: 12/4/2008 8:38:01 AM  Ignore Wizrd03 Report Abuse
Ger more profit before the holiday travel - always happens no matter what. Prices are dropping again now that everyone's home
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