Crude oil futures jumped more than $2, to $113.93 a barrel on the New York Mercantile Exchange. Oil prices have risen more than 18 percent since the beginning of the year.
Tuesday’s price set a record for oil and helped push gasoline to fresh highs. Retail gasoline averaged $3.39 a gallon, according to AAA, the automotive group. That is more than 50 cents a gallon higher than a year ago. Diesel prices have seen even bigger gains. Diesel now averages $4.12 a gallon, according to AAA, $1.18 more than last year.