Gas prices continued to spike Wednesday morning, and the cost of unleaded and diesel fuel is going to cause more pain to wallets with inflation also on the rise.

Across North Carolina, the average price for unleaded gas jumped roughly 8 cents overnight to $4.12 a gallon on Wednesday, according to AAA. In just a week, the average price has increased by nearly 22 cents.

Other WRAL Top Stories

Gas across Wake County and the Triangle is even higher, averaging roughly $4.14 a gallon. One Cary gas station WRAL News visited Wednesday morning was selling regular unleaded gas at $4.29 a gallon.

►Check fuel prices in the area with the WRAL Fuel Tracker

Diesel prices, which have begun to take the spotlight after hitting new all-time records above $6 for the first time, sit at about $6.09 a gallon on average in the state. The record prices have caused a strain for virtually every business that relies on freight or diesel-fueled equipment, such as farmers.

Nationally, diesel prices have risen to $6.31 a gallon, which is nearly 40 cents higher than a week ago and roughly $2.60 higher than this point last year.

Patrick De Haan, an analyst with GasBuddy, said he expects prices are only going to get higher in the short-term future.

"We've reached a new milestone - the U.S. average diesel price has hit $6.301/gal while gasoline is up to $4.355/gal. I expect both of these to jump noticeably over the next 48 hours. Diesel could hit $6.60/gal in a few days, surpassing the inflation-adjusted peak seen in 2022," De Haan said.

Renewed global instability and conflict in the Strait of Hormuz is a major reason gas is expensive right now, as the United States' ongoing war with Iran as well as Russia's war with Ukraine are disrupting the world's supply and flow of fuel.

President Donald Trump last week called on Ukraine to halt strikes on Russian diesel fuel amid the global shortage, and Ukranian President Volodymyr Zelenskyy said the country was prepared to halt its strikes if Russia committed to not hitting its critical infrastructure.

The price of Brent crude oil, which feeds directly into prices at the pump, has jumped to nearly $108 per barrel amid the ongoing war with Iran. That’s $17 per barrel higher than the average in August.

Inflation also remains high and will likely get worse this month. Food and household groceries were 2.2% higher in August than they were a year ago, and plane tickets rose 2.7% from July to August. Hotel rooms climbed 2.4% in the same time.

President Donald Trump has said he predicts gas prices won't drop until after the midterm elections in November, claiming that Iran "can't hold out any longer."

“Right after the election, oil prices are going to be tumbling downward,” Trump said. “I think it’s going to take a little bit longer than the midterm.”

The president previously said at the start of the war that it would last a matter of weeks. The conflict is now in its seventh month.

Gas prices rising across the board in NC as national prices hit milestones