Average Diesel Price Surges Another 8.8 Cents to Record $2.18

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he Department of Energy said Monday the U.S. average price for retail diesel fuel increased 8.8 cents to a record $2.18 per gallon, while regular gasoline rose above $2 for the first time since June 7.

This was the fifth straight week diesel has set a new record, pushing it 67.8 cents higher than a year earlier. Overall, diesel has increased by a total of 31.1 cents over the past six weeks.

The 8.8-cent jump was the second largest of the year, and would cost a trucker an additional $17.60 on a 200-gallon purchase than only a week earlier. On Sept. 27, diesel rose 10 cents to $2.012 from $1.912, according to DOE figures.

"Retail diesel prices are reflecting not only the rise in crude oil prices, but also pressure from strong demand and high spot prices for heating oil," DOE said on its Web site. Diesel and heating oil are both distillate fuels.

DOE also said Monday the average U.S. retail price for regular gasoline rose 4.2 cents to $2.035 a gallon, the fifth straight week it has increased.

Gasoline, which reached a record $2.064 on May 24, 46.4 cents higher than a year earlier.

The price of crude oil on the New York Mercantile Exchange rose to a $55.33 a barrel on Monday, the highest price since the contract started trading in 1983, before closing at $53.70. Crude oil dropped amid concern that rising prices would reduce the growth of demand for petroleum products, Bloomberg reported.

DOE said the price of diesel rose at least 6.1 cents throughout the entire nation, with the largest increase of 10.6 cents reported in the Midwest. Its price was $2.161 per gallon, 65.3 cents higher than the same week in 2003.

Each week, DOE surveys 350 diesel-filling stations to compile a national snapshot price.