Local News

Gas Prices Fall Fourth Straight Week

BEND, OR -- Finally, some good news at the pump: AAA's Marie Dodds says the price of crude oil has fallen about 20% over the past month. "This is the fourth week in a row that we are seeing gas prices fall. The national average for regular drops 14 cents to $4.66 a gallon. The Oregon average loses 9 cents to $5.38." Bend’s local average lost a dime, landing at $5.42.

"The price of crude is the biggest factor that impacts the price that you and I pay for gas at our neighborhood gas station," Dodds tells KBND News, "About 53% of what we pay for in a gallon of gas is the result of crude oil prices."

She says global markets are responding to recession concerns, "When you have worries about a recession around the world and in major countries, that tends to send crude oil prices lower because the thought is there will be less crude consumed in the event of a recession."

Despite that downward pressure, she says the war in Ukraine and high demand continue to hold prices higher than they otherwise would be. 

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