Diesel Soars 18.2¢ to Record $4.331

Gasoline Spikes 10.9¢ to $3.722 a Gallon
Bruce Harmon/Trans Pixs

Diesel fuel jumped 18.2 cents to a new record Monday, averaging $4.331 a gallon at the pump nationwide, the Department of Energy said.

The gain was the biggest single-week increase since a 34.6-cent spike in October 2005 following hurricanes Katrina and Rita. Diesel had risen by 16.1 cents and 15.5 cents in two consecutive weeks in March.

Monday’s increase followed last week’s 2.8-cent decline from the previous $4.177 record. That was just the third downturn since the end of January, according to DOE figures.

The gain left trucking’s main fuel $1.558 higher than the same week last year, and it has soared 98.6 cents this year alone.

Gasoline, meanwhile, jumped 10.9 cents to $3.722, a new all-time record high.

Crude oil hit repeated record highs last week, gaining nearly $10 and finishing the week at a record $125.96 a barrel on the New York Mercantile Exchange, Bloomberg reported.

Oil futures reached an all-time high of $126.40 on the Nymex Monday before receding to finish the trading day at $124.23, Bloomberg reported.

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