Gas prices take a dip

Published 4:00 pm Monday, October 22, 2018

File photo

VALDOSTA — Gas prices in Lowndes County fell last week, in line with national and state prices.

The average price of a gallon of regular gasoline in Valdosta Monday was $2.68, down five cents from the previous week, according to the AAA Daily Fuel Gauge Report. Valdosta had the sixth lowest average fuel price Monday among the 15 Georgia markets the auto club monitors.

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The lowest fuel price reported in the city Monday was $2.57 per gallon at a retailer on the Madison Highway, according to the price tracking website gasbuddy.com. This does not include buying clubs where only club members get the lowest prices.

Nationally, the average price of gasoline Monday was $2.85 per gallon, down four cents from seven days earlier, while the Georgia average of $2.75 was down five cents in the same period, according to AAA.

In Friday market action, benchmark U.S. crude rose 0.7 percent to $69.12 per barrel in New York. Brent crude, used to price international oils, gained 0.6 percent to $79.78 a barrel in London.

Wholesale gasoline rose 1.2 percent to $1.91 a gallon. Heating oil inched up 0.3 percent to $2.30 a gallon. Natural gas added 1.6 percent to $3.25 per 1,000 cubic feet.

Terry Richards is senior reporter at The Valdosta Daily Times.