Not sure what valve you are referring to, but it sounds like the equipment supply valve. Is it on the supply line outside the fryer? It also sounds like it may be a obsolete style that should have been, or should be replaced. That style eventually leaks if not re-lubed..
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If not that one are you talking about the gas safety valve with 3 positions, Off, Pilot, and On That has to be pushed down to go from Pilot to On. Or are you talking about the fryer temp control that has a off and can be set to a temperature. If it is this one the knob has broke internally.