The national average price for gasoline hit an all-time high $4.17 per gallon after jumping 10 cents over night. The previous high $4.11 per gallon was set in July 2008. Prices at the pump have risen 55 cents from last week, which is the largest weekly increase ever. The nationwide average diesel fuel price is hovering around $4.76 per gallon with many traders suggesting it will take out its all-time high $4.85 per gallon in the coming days.
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