Fuel prices slip, but still up in the stratosphere

Published 2:00 am Monday, September 18, 2017

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VALDOSTA — Gasoline prices dipped slightly in Valdosta over the past week but are still far above their pre-double-hurricane-whammy levels of a few weeks ago.

The average price of a gallon of regular gasoline in the city Sunday was $2.71, down a penny from seven days earlier, according to the AAA Daily Fuel Gauge Report.

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The least expensive gas price recorded in Valdosta Sunday was $2.59 in two locations, one on the Valdosta Highway and the other on Northside Drive, according to the price tracking website gasbuddy.com.

The most expensive gas reported Sunday in the city was $3.31 at a North Patterson Street retailer, according to gasbuddy.

Nationally, the average price of gasoline Sunday was $2.63 a gallon, down from $2.67 a week earlier, while Georgia’s average of $2.72 was down three cents in the same period, the auto club said.

Gasoline prices across the Southeast were dealt a one-two punch by Mother Nature, first by Hurricane Harvey shutting down much of Texas’ refinery capacity and closing a major pipeline through Georgia, followed by Hurricane Irma sweeping through Florida and Georgia Sept. 10-11. Millions of Floridians evacuated their homes ahead of Irma, causing a rush on fuel supplies just as the state’s fuel ports had to shut for the storm.

In Friday market action, U.S. crude oil finished unchanged at $49.89 a barrel in New York. It’s at its highest price since the end of July. Brent crude, the standard for international oil prices, gained 15 cents to $55.62 a barrel in London.

Wholesale gasoline rose 3 cents to $1.66 a gallon. Heating oil added 2 cents to $1.80 a gallon. Natural gas fell 5 cents to $3.02 per 1,000 cubic feet.

Terry Richards is senior reporter at The Valdosta Daily Times.