U.S. retail diesel fuel price at record $3.97: Govt

WASHINGTON (Reuters) - The U.S. average retail price for diesel fuel jumped 15.5 cents over the last week to a record $3.97 a gallon, the federal Energy Information Administration said on Monday.

The price for diesel is up $1.29 from a year ago, the agency said in its weekly survey of service stations. Diesel fuel costs are high because of rising crude oil, which reached a record $111.80 a barrel on Monday at the New York Mercantile Exchange, before falling sharply by the end of the trading day.

High diesel prices are cutting into the profits of truck drivers and raising the shipping costs for businesses.

The central Atlantic states had the most expensive diesel fuel at $4.18 a gallon, up 18.8 cents. The Rocky Mountain states had the most affordable diesel at $3.89, up 16 cents.

(Reporting by Tom Doggett; Editing by Marguerita Choy)