Oregon gas prices fall to lowest since May

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Oregon gas prices fall to lowest since May

01:57 PM PDT on Tuesday, August 5, 2008

Associated Press

PORTLAND, Ore. -- Gasoline prices are still falling.

The Oregon AAA says the average price of gas statewide has fallen eight cents this week to $4.06 a gallon.

The national average fell seven cents to $3.87 a gallon.

More: Find cheap gas prices

Officials say that if crude oil remains below $125 per barrel, the national average could fall to about $3.75 by Labor Day.

Oil is trading at about $120 per barrel, down about $27 from the all-time high price of $147 per barrel set on July 11.

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