LANSING, Mich. (WLNS )- According to AAA, the national average for a gallon of regular is now $4.34, cents, up 18 cents from last month, and one cent below the all-time high set on March 11.

Some analysts predict an average price as high as $4.50 a gallon by summer.

The cost of diesel fuel soared to another all-time high this weekend, it’s $5.53 a gallon on average.

In New England, some truck drivers are paying $3.50 more per gallon of diesel compared to last year.

“Yesterday was the first time I had to fill my truck all the way up and I hit over $1,000,” said truck driver Harold Alleyne-Beard.

Fuel prices are being pushed higher by increasing demand and rising oil prices due to concern about less Russian oil entering the global market, and, oil prices are expected to rise even higher once cities in China lift their COVID lockdowns.

“China is a very large oil consumer and if China shuts down along with these big cities, that could mean lower demand and it could mean lower prices. It just depends on how long these cities are shut down,” said Patrick De Hann with Gasbuddy.

Meanwhile, stock futures fell overnight on Wall Street. A turbulent week ended Friday with the market’s fifth consecutive weekly decline. But, there is one bright spot ahead of a key inflation report this Wednesday. A leading research firm says:

“We expect inflation to peak this summer between 6 and 7%… and to recede to 3 to 4% next year with no recession… we may have spotted the first signs of peaking inflation already.”