Record diesel prices are hitting the West Coast the hardest: Chart of the Day

Diesel galloped to a new record of nearly $6.45 per gallon on Friday as oil prices remained firmly above $100 a barrel and supply squeezes pushed more state averages to new peaks.

"New Jersey and Maine have just reached a new all-time record price for diesel, making it now 44 states where diesel prices are at all-time highs," GasBuddy head of petroleum analysis Patrick De Haan noted on X on Thursday .

At this pace, the national average could soon surpass the 2022 inflation-adjusted peak of $6.58, according to De Haan. Meanwhile, AAA data showed gasoline prices stood at $4.46 per gallon, about $0.10 below May's yearly peak when US-Iran hostilities sent oil soaring

Regionally, diesel shows pockets of deepening splits, according to the US Energy Information Administration .

While East Coast prices track the national average, West Coast diesel prices have exceeded $8 due to high taxes, limited refining capacity, and import dependence.

In the Midwest, harvest demand and refinery outages have pushed diesel near $7.

Some strategists speculate that a US diesel export ban could be implemented ahead of the midterm elections if prices don't come down soon.

The Trump administration on Wednesday issued a 90-day waiver to temporarily ease rules on hours of service by truck drivers handling gasoline and diesel, with US Transportation Secretary Sean Duffy citing supply ‌and cost concerns.

The 90-day waiver allows drivers to operate for up to 16 hours within a 24-hour span, up from 14 under existing requirements, as long as ​they take required rest breaks.

A look at Yahoo Finance's AlphaSpace chart shows the impact of higher fuel costs on J.B. Hunt's ( JBHT ) stock after CFO Brad Delco warned that rising diesel prices would impact the company's bottom line.

"We kind of want to be transparent with investors and give an update … in light of these costs that are sort of hitting us," Delco said at the Morgan Stanley Industrial Conference on Tuesday.

The freight transportation company expects its quarter-to-quarter earnings to drop 5% to 10%.

"The impact of upward diesel prices for 7 consecutive weeks makes it difficult for surcharges to catch up to prices at the pump," Bank of America analysts said on Thursday.

Brent crude ( BZ=F ) edged past $100 for the first time in two months last week amid ongoing fighting in the Middle East. Energy bottlenecks tied to the US-Iran conflict, along with refining constraints, have pushed crack spreads, or the difference between crude oil and refined fuel prices, to new highs.

Ines Ferre is a senior business reporter for Yahoo Finance.