Diesel prices across the U.S. hit their highest point since August 2008 in the week ending April 9, climbing six-tenths of a cent as oil prices fell to more than $102 a barrel.
The average price is $4.148, the highest price since the week ending Aug. 18, 2008, when the cost per gallon of diesel reached $4.207. Diesel prices last week were 7 cents higher than the same period a year ago, according to the U.S. Energy Information Administration.
Prices rose in all regions, except on the West Coast, including California, and the East Coast’s Lower Atlantic region. The sharpest rise in prices was in the East Coast’s New England region, where the cost per gallon rose 1.6 cents to $4.278. California saw a similar price change but in the opposite direction, pulling diesel prices down to $4.40.
Crude oil for May delivery fell 85 cents to $102.46 a barrel on the New York Mercantile Exchange. Optimism about the upcoming talks between Iran and major Western nation dampened fears that the former would close the Strait of Hormuz, a major oil shipping lane.