Oregon gas prices fell another 26 cents in the past week and the drop in Central Oregon was nearly the same pace, according to AAA.
The price of regular unleaded across the state Monday, on average, is $4.21 per gallon. That’s down from $4.47 on Nov. 28 and $4.84 a month ago. It’s still 43 cents higher than this time last year.
In Bend, the average price is $4.22, down 24 cents from a week ago and 66 cents from this time last month. It remains 35 cents above last year’s price.
Nationally, the price of regular unleaded is at $3.40 on average. That’s almost where it was one year ago when it was $3.36.
“Every state has again seen average gasoline prices drop in the last week, and it remains very possible the national average could fall under $3 per gallon by Christmas,” said Patrick De Haan, head of petroleum analysis at GasBuddy, in a statement on the company’s blog. “There has also been a drop in diesel prices, which this week will fall back under $5 per gallon, and could soon thereafter fall to their lowest level since March.”
But here comes the caveat.
“However, despite all the good news about fuel prices, there may be some concerns coming as the price cap on Russian oil kicks in,” De Haan said.” Retaliation is possible, and while OPEC+ upheld production cuts from last month, they could always cut more production. For now, however, we’ll likely see another week of declines at the pump in nearly all areas.”