VALDOSTA — Gas prices in Valdosta climbed significantly over the past week, according to statistics.
The average price of a gallon of regular gasoline in the Azalea City Wednesday was $2.97, up 21 cents over the preceding seven days, according to the AAA Daily Fuel Gauge Report.
The lowest gasoline price reported in Valdosta Wednesday was $2.79 per gallon at several retailers, according to the price tracking website gasbuddy.com. That was also the lowest price reported in Tifton Wednesday, this time at a store on Tift Avenue North.
Valdosta had the third least expensive gas prices Wednesday among the 15 Georgia fuel markets monitored by the auto club: above Catoosa and Albany but below Warner Robins, Savannah, Rome, Macon, Hinesville, Gainesville, Dalton, Columbus, Brunswick, Augusta, Atlanta and Athens.
Nationally, the average price of gasoline Wednesday was $3.22 per gallon, down three cents over seven days, while Georgia’s average of $3.07 per gallon was up 28 cents in the same period, AAA said.
Part of Georgia’s and Valdosta’s steep price hikes can be attributed to a full resumption of the state’s gas 31.2 cents per gallon gas tax, which had been suspended through Nov. 29.
“The current streak of daily pump prices either falling or staying flat started on September 19,” said Andrew Gross, AAA spokesperson. “It appears this run is in jeopardy, and we may see prices edge a bit higher. But if the cost of oil eventually hits reverse and dips again, pump prices will likely follow suit. So stay tuned.”
In Wednesday’s market action, a barrel of benchmark U.S. crude tumbled roughly 4% as expectations build that the world has too much oil available for the global economy’s demand. It sank below $70, down more than $20 since September. Brent crude, the international standard, fell 3.8% to $74.30 per barrel.