econ-journal41 - The last time demand showed a...

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Duc Hoang – ECON210 Journals Gas demand firms as prices keep dropping By Julianne Pepitone, CNNMoney.com contributing writer Last Updated: December 9, 2008: 5:15 PM ET NEW YORK (CNNMoney.com) -- Gasoline demand rose on a year-over-year basis for the first time in eight months as prices at the pump declined for the 83rd day in a row. The law of demand is clearly shown in gas market where demand ticked up a modest 0.3%, year-over-year, for the week ended Dec. 5, according to Tuesday's MasterCard Advisors' Spending Pulse report, which tracks national retail sales.
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Unformatted text preview: The last time demand showed a year-over-year bump up was the week ended April 18, when it rose 3.1%. The report includes all sales, whether they are cash, check or by credit card. In the summer when gas was climbing to reach a peak at $4 per gallon, many drivers left their cars home and relied on public transports. Things have been smoothing down quite quickly as now gas price is just below $2 per gallon. Consequently, consumer demand considerably rises....
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