Gasoline prices almost stagnant

Published 10:00 am Tuesday, July 21, 2020

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VALDOSTA — Gasoline prices have remained almost unchanged during the course of a week, following state and national trends.

The average price of a gallon of regular gasoline in Valdosta Monday was $2.03, down a penny from the previous week, according to the AAA Daily Fuel Gauge Report.

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The lowest price reported Monday in Valdosta was $1.82 per gallon at stores on Inner Perimeter Road and Bemiss Road, according to the price tracking website gasbuddy.com. That does not include prices at buying clubs, where only club members get the lowest prices.

Monday, Valdosta prices ranked seventh out of 15 Georgia markets surveyed by AAA.

The auto club said the average price of gasoline on a national level was $2.20 per gallon, unchanged from seven days ago, while the Georgia average of $2.01 per gallon was up a penny during the same period.

“During the last month, demand has averaged about 8.6 million barrels per day while gasoline stocks have steadily declined,” said Jeanette Casselano, AAA spokesperson. “Week by week, we are seeing mostly regional fluctuation at the pump based on gasoline supply and demand.”

In Monday midday market trading, the price of benchmark U.S oil reversed an early slide, adding 0.5% to $40.79. Brent crude, the international standard, was up 0.3% to $43.27 a barrel

Terry Richards is senior reporter at The Valdosta Daily Times.