Regular gasoline at U.S. pumps dropped 1.7 cents to an average $2.668 yesterday, the least expensive since October 2010, according to AAA.

Bearish wagers on U.S. ultra low sulfur diesel narrowed 9 percent to 20,345 contracts. The fuel sank 10 percent to $2.1544 a gallon in the report week.

WTI tumbled to $32.40 in December 2008 from a record $147.27 that July, prompting OPEC to cut quotas by 2.46 million barrels a day.

“A lot of people thought that once the market dropped so dramatically, it didn’t have that much further to go,” Phil Flynn, senior market analyst at the Price Futures Group in Chicago, said by phone. “It’s almost like a sense of denial of what’s going on.”

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