Diesel hits new record
Nationwide average price for a gallon of diesel fuel hits all-time high of $3.365 as regular unleaded falls slightly, AAA survey says.
NEW YORK (CNNMoney.com) -- The average price of diesel fuel, a vital component of transport costs, reached a new record high, a survey by AAA showed Monday.
The price of diesel fuel, which is used to operate most heavy vehicles, has risen 35% over the past year and has become a major challenge to businesses and other organizations that rely on trucks and busses.
The average price per-gallon of diesel rose to $4.108, up a tenth of a cent from yesterday, according to the fuel survey. Diesel was $3.967 a gallon in the previous month, and $2.931 in the same period a year ago.
The average price of regular unleaded gasoline fell slightly to $3.373 from $3.374. Gas prices are up 18.5% from what they were last year. A month ago, the nationwide average was $3.284 a gallon.
Gasoline prices normally rise during the spring as people travel more. However, the record fuel prices have also been supported by high crude prices as shrinking profit margins cause refiners to pull back on production.
Crude oil prices rose above $111 a gallon on Monday, supported by weakness in the dollar. Investors have been buying crude oil as a hedge against inflation.
According to AAA, California continues to lead the nation in pricey gas, at $3.795 a gallon. Hawaii is less than a penny from the $3.70 mark. Alaska also maintains prices above $3.60.
Prices in New Jersey, the state with the cheapest gas, broke $3.10 a gallon, reaching $3.113.
The AAA survey, updated daily, tracks prices at roughly 80,000 service stations across the country. It is conducted for the group by Oil Price Information Service. 
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