Diesel prices across the U.S. fell to their lowest point in 10 weeks, slipping 1.6 cents in the week ending May 7 as oil prices dropped to the lowest point since February.
The average price of $4.057 is down 4.7 cents from the same period a year, after falling for the fourth straight week, according to the U.S. Energy Information Administration. Prices are up 2.7 cents, or 7.2 percent, from the beginning of the year.
Prices fell in all regions, with the East Coast’s New England region and the West Coast excluding California seeing the sharpest decreases, both dropping 2.6 cents. The Midwest and the Gulf Coast saw prices remain below the $4 mark.
Crude oil for June delivery fell 55 cents to $97.94 a barrel on the New York Mercantile Exchange. Prices slipped on concerns that European election results, particularly in France, could reignite the EU sovereign debt crisis.