American diesel prices hit highest level in two years

US DIESEL fuel prices have increased 3.5 cents across the country within a week to US$3.19 per gallon, the highest level in two years, according to the US Energy Information Administration.

The latest high surpassed the year's most recent record of $3.18 per gallon set in mid-November, and the highest in any week since October 27, 2008, when it hit $3.28 a gallon on its way down on a 35-week slide from an all-time high of $4.76 a gallon in July 2008.

Retail prices track crude oil future prices, which have shot up $5.33 to $89.19 per barrel on the New York Mercantile Exchange since American Thanksgiving, reports Newark's Journal of Commerce. With a gain of 2.1 cents, diesel on the west coast was the highest of all the country's regional averages of $3.32 a gallon.
(Source:www.schednet.com)