Price of diesel fuel reaches highest mark in 16 months

The average price of a gallon of diesel fuel nationwide continued its climb toward $3 a gallon, rising 2.2 cents to $2.946, a 16-month high, according to US Department of Energy information.

This fifth consecutive increase in trucking’s main fuel put it 85.6 cents over the same week in 2009 and at its highest level since November 3, 2008, when it was $3.088. Diesel has jumped 19.8 cents in the past five weeks after falling 12.3 cents in the previous five.

The Gulf Coast region has the cheapest diesel at $2.904, while the Central Atlantic is the most expensive at $3.079.