Diesel price shatters all-time record high

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The national average retail price of a gallon of diesel soared 15.6 cents from last week to set a new all-time record high of $3.552 for the week ending Monday, Feb. 25, according to the U.S. Department of Energy. The price, which has climbed 27.2 cents in the last two weeks, is $1.001 higher than the same week last year.

The previous record high of $3.444 was set on Nov. 26. The average price now has been above $3 for 23 consecutive weeks.

All regions tracked by DOE saw double-digit prices increases. The biggest increase, 16.7 cents, was in the Middle Atlantic, where the price roared to $3.693. The smallest increase, 12.2 cents, was in the New England region, where the price climbed to $3.710, the nation’s most expensive diesel. The nation’s least expensive price, $ 3.473, was in the Rocky Mountain region, where week-over-week prices climbed 12.3 cents.

Crude oil climbed to more than $102 per barrel in early trading today, Feb. 27, the first time it has topped that level, according to the Bloomberg news agency. Rising oil costs could push gasoline prices to $4 a gallon this spring, the New York Times reported today, Feb. 27.

For state-by-state diesel prices, updated daily, click here.