Diesel, Gasoline Prices Continue Downward Trend; Oil Ends Higher
June 04, 2012
Diesel fuel prices dropped this week by 5.1 cents to $3.846 a gallon. The price of diesel has decreased by more than 30 cents since early April, when prices averaged $4.148 a gallon. Diesel fuel prices are down by an average of 9.4 cents from a year ago.
The price of gasoline also fell this week by 5.7 cents to an average of $3.612 a gallon. Gasoline prices are down almost 17 cents from prices one year ago and have come down almost 33 cents since April, when prices reached a high of $3.941.
A strengthening euro helped oil prices to rise this week, along with increased hope that European leaders will work out a plan to bring the region out of its debt crisis.
U.S. July crude rose 75 cents to settle at $83.98, after falling early to $81.21, the lowest since prices were last under $80 a barrel on October 6, 2011.
Brent July crude rose 42 cents to settle at $98.85 a barrel, having recovered after dropping as low as $95.63, the lowest intraday price since January 26, 2011.