It is possible to visit Lothal on a day trip from Ahmedabad using public transportation but it is really a very tiring trip, you have to take at least two buses (to Bodgara and then the local bus to Anrej) to and walk the remaining 4 kilometers under the sun. A taxi for the whole trip (return) will cost you around 25 euros.
The entrance fee is only 5 rupiees.
Take plenty of water - no shops around.
You should use a lot of imagination to see the Harappian port town in what's remaining...
Spend some time in the little museum where you can get some info about Indus Valley civilization... Bad thing is that you cannot take pictures inside and they do not sell any books about the site. Ask for a leaflet in English 'cos no official guides who can show you around...
In general - the trip is worth and rewarding if you keep in mind that the ruins used to be the only port serving the whole Indus civilization.
And the seals and perforated jars - are something really stunning.