Gas prices fall below last year's level, even locally

PORTLAND — The old rule that what goes up, must come down apparently applies to gasoline prices.

The average price for gallon of regular gas in Oregon has fallen below the price of a year ago. The average in the Medford-Ashland area is higher on average than in most Oregon cities, but it also fell below the level of a year ago.

The statewide average in Oregon stands at $2.86 a gallon after plummeting 24 cents last week. That's down from $3.06 a gallon last year at this time and down from $4.29 a gallon at the highest level, in July.

The Medford-Ashland average fell to $2.94 a gallon, down from $3.10 at this time a year ago and down from $4.38 a gallon at the highest point in July.

Nationally, the average price fell 26 cents to $2.63 — the lowest since the end of March 2007.

AAA Oregon says it's mostly because people are driving less — 78 billion miles less so far this year than the same 10 months the previous year.

— The Associated Press

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