Diesel Reaches Highest Point in 16 Months

The national average price of diesel fuel reached its highest point in more than a year in the past week, jumping 4.3 cents to surpass $2.90 a gallon for the first time since November 2008, the U.S. Energy Information Administration said.

The third straight week-over-week increase put the national average price at $2.904 a gallon for the week ending March 8, 14.8 cents higher than it was three weeks ago. It was also 77 cents, or 38 percent, higher than the low point almost exactly one year ago.

The price jumped across all regions, including 5.4 cents in the Rocky Mountain states, and peaked at $3.057 a gallon in California. It was also beyond $3 a gallon in the rest of the West Coast and in New England and the Central Atlantic.

The last time it topped $2.90 diesel sold for an average of $2.944 in the week ending Nov. 10, 2008, during the long fall from the historic peak of $4.764 per gallon on July 14, 2008.