Diesel Rises 3.5¢ to Two-Year High of $3.197 a Gallon

Gas Gains Also Hits Two-Year High
Tom Biery/Trans Pixs

Diesel increased 3.5 cents to $3.197 a gallon, reaching its highest pump average in more than two years, the Department of Energy said Monday.

Gasoline rose 10.2 cents to $2.958, its highest price in more than two years, DOE said.

Diesel’s price was the highest since diesel averaged $3.288 per gallon on Oct. 27, 2008, when it was coming off its historic highs.

Diesel fell 0.9 cents last week from a week earlier, to $3.162 per gallon. It was the second of two consecutive decreases that saw diesel fall 2.2 cents from $3.184, another two-year record high.

The price is now 42.5 cents higher than the same week a year ago, according to DOE records.

Gasoline is at the highest average since Oct. 20, 2008, which it was $2.914 per gallon, DOE records show. It is 32.4 cents higher than the same week a year ago.

Crude oil also hit a two-year high Monday on the New York Mercantile Exchange.

Trading Monday closed with oil at $89.38 a barrel, the highest close since Oct. 7, 2008.

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