The average price of diesel jumped over 11 cents last week to $3.396 per gallon, according to the Department of Energy.
Low sulfur diesel was up 13.2 cents per gallon at $3.335 while ultra low sulfur diesel rose 11.4 cents to $3.405 per gallon.
This average rise in diesel prices, which is over 90 cents per gallon more than for the same time last year and is a significantly larger increase in a single month since November 2007, appears to echo DOE projection for increases in diesel prices for 2008. DOE reported earlier that it expects diesel prices to be higher in 2008 than last year due to higher average crude oil prices.
Meanwhile, the price for crude oil reached $100 per barrel February 19, a record high, but had fallen slightly below that mark by February 20, according to bloomberg.com.