Diesel prices in the U.S. hit the lowest point since February 2011, falling 5.1 cents in the week ending June 25 as oil prices fell to a little over $79 per barrel.
The average price, $3.678, fell for 10th week, according to the U.S. Energy Information Administration. Prices are down 21 cents from a year ago and 10.5 cents from the beginning of the year. Prices haven’t been this low since the week ending Feb. 21, 2011, when diesel fetched $3.573 a gallon.
Crude oil for August delivery fell 55 cents to $79.21 a barrel on the New York Mercantile Exchange. Investor optimism fell on continued fears that European leaders won’t do enough to manage the debt crisis when they meet later this week.