Investing.com -- US beer market volumes dropped 5.3% on a 12-week trailing basis, according to Bernstein analysts. The firm said volume weakness has remained stable over the latest two weeks following declines that began after a gas price increase.

On a two-week trailing basis, the market was down 6.9%. On a four-week trailing basis, market volumes declined 7.2%. Bernstein said the weakness has been broad-based among brewers.

Constellation Brands continued to gain market share, posting a 50 basis point share gain year-over-year on a 12-week trailing basis. The company's volumes fell 2.3% on a 12-week trailing basis, less than the overall market decline. On a four-week basis, Modelo Especial fell 6.5% year-over-year, Corona Extra declined 8.2% year-over-year and Pacifico grew 10.4% year-over-year. Constellation Brands posted a market share of 17.8%.

Anheuser-Busch InBev's volumes were down 4.2% on a 12-week trailing basis. On a four-week basis, Michelob Ultra grew 0.9%. Busch Light declined 0.9%. Bud Light fell 12.5%, Budweiser dropped 9.5%, Busch declined 12.8% and Natural Light fell 8.6% year-over-year.

Molson Coors volumes declined 7.5% year-over-year on a 12-week trailing basis. On a four-week basis, Coors Light fell 8.5%, Miller Lite dropped 9.5%, Keystone Light declined 2.7% and Blue Moon fell 11.9% year-over-year. Coors Banquet saw growth of 1.4%.

Boston Beer Company posted volume declines of 13.7% year-over-year on a 12-week trailing basis. On a four-week basis, the company's volumes declined 16.8% year-over-year.

Heineken volumes fell 11.1% year-over-year on a 12-week trailing basis. On a four-week basis, volumes declined 12.5% year-over-year.

Diageo posted volume declines of 1.7% on a 12-week trailing basis, 360 basis points better than the market.