Local News

Declines In Oregon Gas Prices

BEND, OR-- Prices at the pump fell for the second week in a row. AAA’s Marie Dodds tells KBND News, "National average for regular drops 9 cents, to $4.88 a gallon. The Oregon average dips three cents to $5.50. And, we’re seeing similar drops in most Oregon communities this week, ahead of the busy Fourth of July travel period." In Bend, the local average fell 4 cents to $5.55.

Dodds says there’s one main reason for the decline, "We saw the price of crude fall the last couple of weeks, basically, on global fears of an economic slowdown, which would lead to less demand for oil."

She believes gas prices will rebound next week, "We are expecting huge demand numbers for gasoline the rest of this week and through next week, because of the Fourth of July holiday. And, in addition, we are seeing crude oil prices climb again this week." The spike in demand and the cost of crude are sure to push gas prices back up next week.

 

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