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Sunday, July 21, 2024

Diesel Reaches Highest Price Since Summer ’08

The average diesel price spiked to $4.142 a gallon this week, its highest price since the summer of 2008, according to the Energy Information Administration’s weekly fuel update. The price is the second highest since diesel reached $4.145 on Aug. 25, 2008.

This is the eighth week of price increases, according to EIA. The average diesel price is up 23.5 cents from this time last year, and gas prices are 30.5 cents higher than one year ago.

In Canada, the average price for retail diesel hit $1.30 a liter this week – the highest in over a year and about 13 cents higher than in January and February 2011.

According to Kent Marketing, Vancouver, Moncton and Saint John saw diesel prices as high as $1.40 this week. St. Johns and Corner brook saw pump prices hit $1.43 and $1.45 respectively.