UPDATE 1-US gasoline demand up last week on holiday

Newswire

* Demand up 3 pct week-on-week - MasterCard

* Gasoline consumption 3.8 pct lower than year ago

* Pump prices down 6 cents a gallon last week (Adds link to graphic)

Nov 29 (Reuters) - U.S. retail gasoline demand rose last week as U.S. motorists pumped more of the fuel to visit friends and family for the Thanksgiving holiday weekend, MasterCard said in its weekly SpendingPulse report on Tuesday.

Demand rose 3 percent in the week to Nov. 25, compared with the previous week, according to the report.

The seasonal spike, however, was not enough to bring demand above levels seen last year, MasterCard added. Last week's gasoline consumption was 3.8 percent lower than year-ago levels.

The price of gasoline remained 16.8 percent higher than last year at $3.34 a gallon even after falling 6.00 cents a gallon from the previous week.

The four-week moving average for demand fell for the 36th consecutive week, down 4.1 percent compared with year-ago levels.

(Graphic: http://link.reuters.com/mak44s)

MasterCard Advisors, a unit of MasterCard Inc , estimates retail gasoline demand based on aggregate sales in the MasterCard payments system coupled with estimates for other payment forms including cash and checks. (Reporting by Selam Gebrekidan; Editing by Marguerita Choy and Sofina Mirza-Reid)

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