Diesel Price Rises to October 2008 Level

In the third increase in as many weeks, the national average retail price for diesel fuel last week climbed 1.7 cents to $3.248 per gallon, the highest price since October 2008, when the average price was $3.288 per gallon, according to the U.S. Energy Information Administration.

Diesel prices, driven by higher costs for crude oil and distillates used for heating oil, have been rising all through December, adding 86 cents to the average from a low of $3.162 at the end of November.

Crude oil futures have been trading above $85 per barrel since November, rising from $84.11 per barrel on Nov. 30 to a peak of $89.38 per barrel on Dec. 6 and settling this past Friday at $88.02 per barrel on the New York Mercantile Exchange.

By The Numbers: U.S. Diesel Prices.

The highest prices for diesel last week were in the West Coast region, where the fuel sold for an average of $3.366 per gallon, up half a cent from the previous week.

The lowest prices were on the Gulf Coast, where diesel sold for $3.183 per gallon, up 2 cents from the previous week.

The biggest increase was a 2.4-cent jump to $3.229 per gallon in the Midwest. The smallest increase was the half penny nudge on the West Coast, which was matched in the Rocky Mountains, where the gain advanced the pump price to $3.29 per gallon.

-- Contact Thomas L. Gallagher at tgallagher@joc.com.