Valdosta gas prices continue sliding

Published 2:00 am Monday, October 2, 2017

Terry Richards | The Valdosta Daily Times

VALDOSTA — Gasoline prices in Lowndes County continued their slow slide in the wake of hurricane fears last week, though at a quicker pace than the rest of the state and nation.

The average price for a gallon of regular fuel in Valdosta Sunday was $2.58, seven cents lower than the average of $2.65 seven days earlier, according to the AAA Daily Fuel Gauge Report.

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The lowest price in the city Sunday was $2.47 a gallon at a retailer on Bemiss Road, while the highest was $2.99 a gallon at a North Patterson Street store, according to the price tracking website gasbuddy.com.

Nationally, the average price of gasoline Sunday was $2.56, two cents lower than seven days earlier, while Georgia’s average price of $2.62, was down a penny in the same period, according to the auto club.

Gasoline prices across the Southeast were dealt a one-two punch by Mother Nature weeks ago, 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, oil prices recovered and turned higher just before the close of trading. Benchmark U.S. crude rose 11 cents to $51.67 a barrel in New York. Brent crude, the standard for international oil prices, rose 13 cents to $57.54 a barrel in London.

U.S. crude oil rose 12 percent in the third quarter, which helped energy companies do better than the rest of the market. But on Friday, those companies gave back some of their recent gains. U.S. crude oil rose 12 percent in the third quarter, which helped energy companies do better than the rest of the market. But on Friday, those companies gave back some of their recent gains.

Terry Richards is senior reporter at The Valdosta Daily Times.