Gas prices approach highest level this year with just weeks to go before midterms

U.S. gas prices approached their highest level of the year Friday, after the national average rose another 3 cents overnight.

The nationwide average price is $4.46 per gallon. Friday’s price sits just 10 cents below the highest level hit earlier this year, on May 21, when the national average was $4.56 per gallon.

Gas prices are also once again within striking distance of their all-time highest level of $5.01, which was hit in June 2022, after Russia invaded Ukraine.

Already, at least six states have average gas prices above $5. California has the highest in the nation, at $6.11 per gallon. A handful of other states, such as Michigan, Utah and Illinois, were on the cusp of hitting $5 Friday.

Gas prices overall have risen 50% nationwide since the U.S. and Israel attacked Iran on Feb. 28.

At the same time, the price of diesel has been registering new daily all-time highs since it first breached $6 per gallon Sept. 11 .

The national average diesel price was $6.44 on Friday, after rising 5 cents overnight. The price per gallon of the commercial fuel has risen 71% since the start of the Iran war.

Rising diesel prices can translate into higher costs for consumers by raising the wholesale cost of getting goods to retailers and grocery stores. The global shipping, rail and trucking industries all rely on diesel.