gasoline

VALDOSTA — Gasoline prices took a tumble in the last week as COVID-19 coronavirus concerns took a toll on energy markets.

The average price for a gallon of regular gasoline in Valdosta Monday was $2.11, a drop of 12 cents from a week earlier, according to the AAA Daily Fuel Gauge Report.

The lowest price reported Monday for gasoline in the city was $1.95 per gallon at a West Hill Avenue store, according to the price tracking website gasbuddy.com. This was the first time in years that gasoline was available in Valdosta for less than $2 a gallon.

Valdosta had the fifth most expensive gasoline Monday out of 15 Georgia markets monitored by the auto club. Dalton and Rome both had average gasoline prices for the week less than $2 a gallon, AAA said.

Nationally, the average price of gasoline Monday was $2.26 per gallon, down 12 cents during a week, while Georgia’s average of $2.07 per gallon was down 13 cents in the same period, according to the auto club.

In market action earlier this week, Brent crude lost $3.80, or 11%, to $30.05 per barrel in London. Benchmark U.S. crude tumbled $2.73, or 8.5%, to $29.00 per barrel in electronic trading on the New York Mercantile Exchange.