GasBuddy News Article

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Gasoline Demand Is At An 18 Month High

The Business Insider -- Maybe all the talk about peak gasoline is bunk. With the price of gas low, and peak driving season upon us, Mastercard reports that U.S. gasoline consumption was the highest it's been in a year and a half:

Bloomberg: Motorists bought an average 9.695 million barrels of gasoline a day in the week ended June 26, MasterCard, the second-biggest credit-card company, said in its weekly SpendingPulse report. That’s 1.6 percent above a year earlier and the most since the week ended Dec. 21, 2007.

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Submitted Jul 03, 2009 By: GM

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ILVET Champion Author Illinois Posts:8,433 Points:1,677,895 Joined:Jan 2005	Message Posted: Jul 4, 2009 1:43:56 AM Ignore ILVET Report Abuse Something will happen to raise the prices. Wait and watch!
spiderjay Champion Author Little Rock Posts:1,523 Points:389,535 Joined:Oct 2005	Message Posted: Jul 4, 2009 1:41:59 AM Ignore spiderjay Report Abuse IT IS SUMMER AND GAS IS DOWN OVER A $1 FROM LAST JULY
grouch311 Champion Author Illinois Posts:2,623 Points:400,340 Joined:Jun 2007	Message Posted: Jul 4, 2009 1:38:27 AM Ignore grouch311 Report Abuse I know I'm not using more, cut my trips down to bare minimum
72_Monte Champion Author Twin Cities Posts:1,287 Points:739,380 Joined:Aug 2005	Message Posted: Jul 4, 2009 1:37:43 AM Ignore 72_Monte Report Abuse Somebody is baiting for higher prices.
007HS Champion Author California Posts:6,423 Points:1,745,160 Joined:Aug 2003	Message Posted: Jul 4, 2009 1:37:32 AM Ignore 007HS Report Abuse eddmac, The trucks from Kaleefornia are delivering GOODS that the Peoples' Republic Of WA needs...
eddmac Champion Author Washington Posts:3,152 Points:729,165 Joined:May 2006	Message Posted: Jul 4, 2009 1:33:30 AM Ignore eddmac Report Abuse Ok who's driving more? Knock it off! I know, on our region driving is down. We she more SUV and big truck, but they have out of state plates or are from the west coast. [Edited by: eddmac at 7/4/2009 2:34:17 AM EST]
Road-Runner Champion Author Denver Posts:2,841 Points:1,026,045 Joined:May 2004	Message Posted: Jul 4, 2009 1:32:30 AM Ignore Road-Runner Report Abuse Big deal! That's not saying much. Very disappointing really!
mvosevich Champion Author St. Louis Posts:2,945 Points:595,555 Joined:Aug 2004	Message Posted: Jul 4, 2009 1:28:14 AM Ignore mvosevich Report Abuse Total BS. Where do these people get their figures.
jcurley Champion Author California Posts:2,410 Points:572,795 Joined:Dec 2007	Message Posted: Jul 4, 2009 1:25:16 AM Ignore jcurley Report Abuse 18 months ago, is about when the Bush depression started. So increased demand means (to me), that economy is not tanking as fast and maybe slightly recovering, in some sectors.
kd5kpd Sophomore Author Texas Posts:126 Points:261,975 Joined:Apr 2006	Message Posted: Jul 4, 2009 1:22:38 AM Ignore kd5kpd Report Abuse WTF are they talking about? Just saw a report reciently saying that gas consumption was at record lows. I dont think they have a clue on it. They must have a lot of stocks in oil futures & are trying drive up prices.
nurdco Champion Author Colorado Springs Posts:2,320 Points:429,175 Joined:Apr 2008	Message Posted: Jul 4, 2009 1:20:03 AM Ignore nurdco Report Abuse THIS is SUMMER and people vacation... DUMMY Author has NO REALITY
nd73 Veteran Author Grand Rapids Posts:479 Points:267,165 Joined:May 2007	Message Posted: Jul 4, 2009 12:54:50 AM Ignore nd73 Report Abuse Let's see - the latest report was that unemployment is now at a 26- YEAR high, but this article says we are all flitting around the countryside, spending lots of money on gasoline??? It makes more sense to believe that without jobs, many folks are charging their gas purchases instead of using cash. A crazy report like this is all it will take for stations to jack up their pump prices. It doesn't seem to matter whether crude is up or down. The pumps only go up.
sg413 Champion Author California Posts:1,367 Points:295,735 Joined:Apr 2008	Message Posted: Jul 4, 2009 12:54:31 AM Ignore sg413 Report Abuse LOL yes using dollar math it should be.
Helms Champion Author Fort Worth Posts:3,012 Points:963,255 Joined:Jun 2005	Message Posted: Jul 4, 2009 12:49:23 AM Ignore Helms Report Abuse and what the hell does Mastercard know about gas....judging by the prices of just under (by a penny or two here) $4 a gallon last summer, demand should have been at an all time high on 7/6/2008 when oil was $147 a barrel.....so....who's lying now....and why???
cutter1330 Champion Author Oklahoma Posts:1,680 Points:439,335 Joined:Jul 2005	Message Posted: Jul 4, 2009 12:45:47 AM Ignore cutter1330 Report Abuse I think NOT....
jvt666 Champion Author California Posts:2,326 Points:773,620 Joined:Apr 2006	Message Posted: Jul 4, 2009 12:42:14 AM Ignore jvt666 Report Abuse That is absolutely not true because they are just counting on their credit card customers. A lot of gas is sold and paid for with cash and other credit cards. This is just another form of speculation on Master Cards part.
LilRedWagonIN Champion Author Indiana Posts:1,456 Points:337,240 Joined:Oct 2008	Message Posted: Jul 4, 2009 12:36:29 AM Ignore LilRedWagonIN Report Abuse "Peak gasoline"? Does that have to do with this article on demand?
bosrs All-Star Author Seattle Posts:830 Points:269,875 Joined:Oct 2006	Message Posted: Jul 4, 2009 12:36:27 AM Ignore bosrs Report Abuse gasoline is always a demand..
jimgraham Champion Author Akron Posts:3,872 Points:725,055 Joined:Oct 2007	Message Posted: Jul 4, 2009 12:33:50 AM Ignore jimgraham Report Abuse applejoe is on the money....
Retowered Champion Author Colorado Posts:2,831 Points:1,442,990 Joined:May 2004	Message Posted: Jul 4, 2009 12:30:32 AM Ignore Retowered Report Abuse Forget about Mastercard what did the Oil Companies have to say about that.
CPR54 Champion Author Austin Posts:4,452 Points:1,069,495 Joined:Jul 2006	Message Posted: Jul 4, 2009 12:27:17 AM Ignore CPR54 Report Abuse price wont stay low long cpr54
applejoe Champion Author Twin Cities Posts:1,251 Points:269,705 Joined:May 2001	Message Posted: Jul 4, 2009 12:26:27 AM Ignore applejoe Report Abuse I think people are just putting more on their credit cards.
RCinNM Champion Author New Mexico Posts:6,097 Points:855,585 Joined:Sep 2005	Message Posted: Jul 4, 2009 12:26:09 AM Ignore RCinNM Report Abuse As long as prices stay high, I will not travel anywhere. I strongly feel that if the prices were lower, more people would be inclined to travel more.
Asbury09 All-Star Author Iowa Posts:930 Points:271,905 Joined:Jan 2009	Message Posted: Jul 4, 2009 12:16:35 AM Ignore Asbury09 Report Abuse forget mastercard, what do the oil companues say
taxiken Champion Author Twin Cities Posts:3,896 Points:1,100,000 Joined:Feb 2003	Message Posted: Jul 4, 2009 12:13:00 AM Ignore taxiken Report Abuse I don't think so.
NHLiveFree Champion Author New Hampshire Posts:2,420 Points:384,475 Joined:Jun 2008	Message Posted: Jul 4, 2009 12:08:58 AM Ignore NHLiveFree Report Abuse This is just pure bull by CitiBank and other Master Card issuers to give a PR goost to our economy. Price of gas is hardly low for the poor state of this economy! Do any of you know anyone doing more driving than they absolutely must do?
Gary65 Veteran Author Toronto Posts:330 Points:202,800 Joined:Jan 2009	Message Posted: Jul 4, 2009 12:08:45 AM Ignore Gary65 Report Abuse There were two motorist in New York this week from Pennsylvania that State Troopers said robbed a gas station and might have gotten away if they had not also fuelled up.
bigmaninarig Champion Author St. Louis Posts:2,186 Points:401,450 Joined:Jul 2008	Message Posted: Jul 4, 2009 12:08:00 AM Ignore bigmaninarig Report Abuse If MasterCard is the second biggest credit-card; what is the biggest and why are prices starting to fall with all this consumption.
dwgt.net Champion Author Nevada Posts:10,156 Points:1,773,385 Joined:Sep 2004	Message Posted: Jul 3, 2009 9:31:50 PM Ignore dwgt.net Report Abuse Sounds right.
captainkettel Sophomore Author Washington Posts:132 Points:611,105 Joined:Jul 2005	Message Posted: Jul 3, 2009 7:55:43 PM Ignore captainkettel Report Abuse Drive less, save more, believe no one...screw big oil! Just another attempt to justify fuel costs.
PissedCanuck Champion Author Toronto Posts:2,691 Points:589,070 Joined:Nov 2006	Message Posted: Jul 3, 2009 7:51:41 PM Ignore PissedCanuck Report Abuse With gas prices the way they are now, people can't resist driving more because when prices do go back up, there may not be another chance for a while.
camel1 Champion Author Minnesota Posts:2,515 Points:1,059,470 Joined:Jul 2006	Message Posted: Jul 3, 2009 7:49:36 PM Ignore camel1 Report Abuse prices are lower than last year, so a small uptick in consumption this time of year is no real surprise. We still need to conserve.
PbFootNY Champion Author New York Posts:1,721 Points:330,855 Joined:Nov 2008	Message Posted: Jul 3, 2009 7:49:28 PM Ignore PbFootNY Report Abuse Hazelnut -> "Duhhh! People lost their jobs and credit card usage is currently high which reflects the demand of credit card usage. Not a very bright guy working for Mastercard here. In another 6 months they won't report on credit card defaults due to buying gasoline." You nailed it.
EZExit Champion Author Phoenix Posts:2,267 Points:442,265 Joined:Aug 2008	Message Posted: Jul 3, 2009 7:47:29 PM Ignore EZExit Report Abuse The article states: " Mastercard reports that U.S. gasoline consumption was the highest it's been in a year and a half" I am calling BS on this, I don't buy this for a second. Stop grasping at any reason possible to rationalize irrational fuel pricing.
e3p0 Champion Author Columbus Posts:2,080 Points:562,580 Joined:Mar 2006	Message Posted: Jul 3, 2009 7:44:25 PM Ignore e3p0 Report Abuse I am doing my part to conserve.
danny999 Champion Author Florida Posts:2,218 Points:391,255 Joined:Oct 2008	Message Posted: Jul 3, 2009 7:15:42 PM Ignore danny999 Report Abuse gas closed at 1.78/gal on commodity exchange today.WHY HASN'T IT GONE DOWN????? IT JUMPS 3/4 CENTS WHEN IT GOES UP 2 CENTS ON COM.EX. 5 MILES FROM ME AT WALMART IT'S DOWN TO 2.48.IN MY NEIGHBORHOOD,THE CHEAPEST IS 2.63.SOMETHING CROOKED ABOUT THAT PICTURE.
hwnguy Champion Author Honolulu Posts:1,897 Points:416,495 Joined:Apr 2008	Message Posted: Jul 3, 2009 7:13:46 PM Ignore hwnguy Report Abuse hmm, everyone using credit cards for gas?
Muke Champion Author Virginia Beach Posts:2,464 Points:635,125 Joined:Jun 2007	Message Posted: Jul 3, 2009 7:12:22 PM Ignore Muke Report Abuse I do not think so. Last year was higher due to Hurricane and economy was not so bad.
netman044 Champion Author Texas Posts:2,361 Points:386,830 Joined:Sep 2005	Message Posted: Jul 3, 2009 7:11:20 PM Ignore netman044 Report Abuse This report is bs - if you buy cokes, candy, anything else at a convenience store it shows up as auto expense, at least on my statement it does. They don't know if they are paying for gas or candy.
Hazelnut Champion Author Greensboro Posts:1,295 Points:653,860 Joined:Sep 2003	Message Posted: Jul 3, 2009 7:10:41 PM Ignore Hazelnut Report Abuse Duhhh! People lost their jobs and credit card usage is currently high which reflects the demand of credit card usage. Not a very bright guy working for Mastercard here. In another 6 months they won't report on credit card defaults due to buying gasoline.
Valricoslash All-Star Author Tampa Posts:680 Points:170,205 Joined:Nov 2008	Message Posted: Jul 3, 2009 7:06:42 PM Ignore Valricoslash Report Abuse There is absolutely no consistency in reporting. Some experts have us driving less while others have us driving more. What is the true story. No one will ever know. That is why they can jerk us around at the pump.
almoose2558 Veteran Author New Jersey Posts:389 Points:119,495 Joined:Nov 2008	Message Posted: Jul 3, 2009 7:06:09 PM Ignore almoose2558 Report Abuse and what makes mastercard (another ripoff industry) and expert in knowing how much gas was purchased???? they probably speculated in the industry and needs prices to go up.
Bussman Champion Author Dallas Posts:1,083 Points:307,895 Joined:Nov 2008	Message Posted: Jul 3, 2009 7:04:46 PM Ignore Bussman Report Abuse The numbers are skewed because of the excessively high prices last summer and the fall they took thereafter. Still haven't seen any real reason other than speculation for the price runup since the first of the year.
nyamar Sophomore Author Tucson Posts:124 Points:64,585 Joined:Jun 2009	Message Posted: Jul 3, 2009 7:04:15 PM Ignore nyamar Report Abuse Since when does mastercard track gas demand?
Jojavo All-Star Author London Posts:593 Points:121,465 Joined:Apr 2009	Message Posted: Jul 3, 2009 7:03:40 PM Ignore Jojavo Report Abuse No one is going anywhere from our neighbourhood... More speculation from the Oil experts & speculators....
MissRita Champion Author Austin Posts:1,040 Points:423,790 Joined:Feb 2008	Message Posted: Jul 3, 2009 7:02:53 PM Ignore MissRita Report Abuse gas needs to be 1.99 a gal. no more.
Roe2009 Rookie Author Missouri Posts:34 Points:2,710 Joined:Jun 2009	Message Posted: Jul 3, 2009 7:02:16 PM Ignore Roe2009 Report Abuse they were higher last year but still needs to go down more
pliskin Champion Author Syracuse Posts:2,039 Points:702,185 Joined:Apr 2005	Message Posted: Jul 3, 2009 6:59:06 PM Ignore pliskin Report Abuse Mastercard, another expert heard from. The Wall Street Journal and AAA both have said that driving is down from prior years.And last summer prices were so high($4.00 a gal) people just couldn't afford to go very far. Check with the resorts or places like Disney and the amusement parks. They're the true indicators of travel and they are having all kinds of financial problems.
Chiron All-Star Author Tucson Posts:602 Points:220,550 Joined:Aug 2008	Message Posted: Jul 3, 2009 6:54:03 PM Ignore Chiron Report Abuse We are doing way less driving than we did 1 year ago, but we don't fly anywhere any more either.
Bubba44612 Champion Author Ohio Posts:1,285 Points:639,530 Joined:Aug 2005	Message Posted: Jul 3, 2009 6:52:41 PM Ignore Bubba44612 Report Abuse Cheaper than flying, so why not drive if you need to go somewhere.
BornToulouse Veteran Author Georgia Posts:411 Points:71,315 Joined:Jul 2009	Message Posted: Jul 3, 2009 6:47:05 PM Ignore BornToulouse Report Abuse While I continue to conserve and plan my driving trips, I can't reduce my personal demand anymore...unless I start walking. So I do my part to conserve and reduce my carbon footprint. Why demand is going up...with the economy the way it currently is...I have no idea. It's a conspiracy I say...LOL.