The cost of filling up in Greater Columbus has never been higher.

Motorists paid an average of $4.18 for a gallon of regular unleaded gasoline in the Columbus area Tuesday, according to Ohio AAA. That broke the old record of $4.16 set on May 4, 2011.

Several Columbus-area stations were posting prices topping $4.30 per gallon, the GasBuddy website shows.

Late Tuesday afternoon, the lowest prices were $3.89 at the Sunoco station at 2280 Stelzer Rd. and $3.99 at the Pilot in London, according to Gas Buddy.

Prices jumped more than a dime per gallon just from Monday to Tuesday and are up 30 cents in a week. A year ago, the price was $2.77 in Greater Columbus.

It's even worse for truck drivers and motorists who depend on diesel fuel. That price also was at a record $5.24 per gallon on Tuesday.

At $4.18 per gallon, the cost of filling up could run $50 or $60 and comes as inflation is running at its highest level in four decades with prices for housing and groceries also gushing.

Blame the surging price of gasoline and diesel fuel on higher oil prices, said Kimberly Schwind, spokeswoman for Ohio AAA.

The price of oil accounts for more than half of the cost of gasoline, she said.

"People need to understand that it's not a shortage of gas, not a shortage of crude oil," she said. "This is a global market. We have tight supplies and high demand, and we’re going to see higher prices.’’

Gasoline prices tend to peak this time of the year as demand starts to pick up in advance of the summer driving season, she said. At the same time, the cost of producing summer blends of gasoline are usually higher.

The previous record for gasoline prices also was set in May.

But there are other factors at work this time around, she said.

Inventories are running 14% below year-ago levels and the war in Ukraine has led European countries to move away from Russian oil, she said.

"There's a lot of concern and speculation in the market," she said. "The market remains highly volatile.’’

The bans on Russia oil are contributing to higher prices and tighter supplies, the Energy Information Administration reported Tuesday.

Russia is one of the world's biggest producers of oil, accounting for 10% of global oil production, according to the Dallas Federal Reserve Bank.

U.S. oil production is increasing, but it may not be fast enough to help much for now.

The federal government is forecasting production of 11.9 million barrels per day this year, up 700,000 barrels from 2021, according to the government's newest forecast.

The national average of $4.37 per gallon of gasoline also was a record Tuesday, according to AAA. California drivers pay the most in the country, at $5.84 a gallon.

Diesel prices were averaging $5.55 per gallon nationwide. Oil analyst Tom Kloza tweeted that 10 states were above $6 a gallon on diesel with California topping $6.50 per gallon.

The rise in fuel prices for motorists comes as demand for gasoline remains below where it was before the pandemic started, Schwind said.

Federal government data show gasoline demand averaged 8.6 million barrels a day the last week in April. Pre-pandemic demand was around 10 million barrels a day, Schwind said.

mawilliams@dispatch.com

@BizMarkWilliams

This article originally appeared on The Columbus Dispatch: Tight supplies, Ukraine war contributing to rising gas prices