Diesel fuel prices set another record in Michigan, U.S. on Wednesday

Diesel and gas prices jumped again in the past 24 hours, with diesel costs smashing previous records both on the national level and in Michigan. 

Here's a look at the trends just this week, with the average price per gallon data that is updated daily by AAA-The Auto Club Group. 

Unleaded regular gas in Michigan 

$4.31 on Monday. 

$4.43 on Tuesday. 

$4.54 on Wednesday. 

Michigan's record price for regular unleaded gas is $5.22, set in June 2022. 

Diesel fuel in Michigan 

$6.14 on Monday. 

$6.25 on Tuesday. 

$6.34 on Wednesday. 

Michigan's new record price for diesel fuel is $6.34, set on Wednesday. 

Unleaded regular gas national average 

$4.31 on Monday. 

$4.32 on Tuesday. 

$4.36 on Wednesday. 

The national record is $5.01, set in June 2022. 

Diesel fuel national average 

$6.23 on Monday. 

$6.26 on Tuesday. 

$6.31 on Wednesday. 

The new national record is $6.31, set on Wednesday. 

What's going on? 

Crude oil pricing accounts for 52% of the price of regular gasoline and 42% of the price of diesel fuel, according to the U.S. Energy Information Administration. The other costs that feed into retail pricing include refining, distribution and federal/state/local taxes. 

So when one or more of those factors bump up in cost, as has happened in recent months with the cost of oil on the international level, so does the pricing at the pump.