Crude oil surged to a 17-month high and gasoline rose on signs that global economic growth is accelerating, bolstering optimism that fuel consumption will increase this year.

Oil advanced above $84 a barrel after reports showed US, Chinese and European manufacturing expanded, while pessimism decreased among Japan’s largest industrial companies. Crude oil for May delivery rose $1.11, or 1.3 percent, to $84.87 a barrel on the New York Mercantile Exchange, the highest settlement price since Oct. 9, 2008. Prices are 75 percent higher than a year ago.

Gasoline for May delivery increased 1.65 cents, or 0.7 percent, to $2.3237 a gallon in New York, the highest settlement since Oct. 1, 2008.