South Georgia gas prices gently sliding

Published 7:00 am Tuesday, October 3, 2023

VALDOSTA — Gasoline prices in South Georgia are falling at a modest pace, in keeping with state and national trends.

The average price for a gallon of regular gasoline in Valdosta Monday was $3.12, down six cents in a week, according to the AAA Daily Fuel Gauge Report.

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The lowest price for fuel reported in the Azalea City Monday was $2.89 per gallon at a store on N. St. Augustine Road, according to the price tracking website gasbuddy.com. In Tifton, the lowest price reported Monday was also $2.89 per gallon at a retailer on North Union Road, gasbuddy said.

Valdosta had the fifth-lowest gasoline prices Monday out of the 15 Georgia markets monitored by the auto club — higher than Warner Robins, Dalton, Catoosa and Albany but lower than Savannah, Rome, Macon, Hinesvile, Gainesville, Columbus, Brunswick, Augusta, Atlanta and Athens.

Nationally, the average price of gasoline Monday was $3.81 per gallon, down four cents in seven days, while Georgia’s average of $3.23 per gallon was down seven cents in the same period, AAA said.

“Oil is stubbornly staying above $90 per barrel for now, and it’s the main ingredient in gasoline,” said Andrew Gross, AAA spokesperson. “Gas prices will likely keep falling, but it’s going to be slow and unsteady, so expect some days where it might edge higher a bit.”

In Monday’s market action, crude oil prices pulled back on Monday after charging mostly higher from $70 during the summer. A barrel of U.S. crude fell 1.5% to $89.44. Brent crude, the international standard, sank 1.2% to $91.12.

The drop for oil dragged stocks lower across the energy sector. Exxon Mobil fell 2.1%, and Chevron lost 1.8%.