HW 44 .177 power seems to be decreasing possible causes?

Just a couple of guesses.

Over filling it past 3000 psi might lower the velocity until it drops below 2900 psi.

Breech o ring damaged or just gone results in loss of power.

Is the barrel loose can you rotate barrel by hand?

Researching forums the gun is difficult to work on your self. Best to send to the dealer for warranty if it's not the breech o ring.
 
Hey Batman, thanks for the response! I don't ever fill beyond 3000psi so I don't think that is the issue. I thought of the breech seal also so I took it out. It looked fine so I tried to put it back. That is a tight space for my sausage fingers! Thought I had it in so I went to test the pistol again and velocity was even lower. Looked in the breech and the o ring was gone. I guess it wasn't in correctly. I assume it just blew out the barrel. I'm now trying to order some new breech o rings. The barrel is tight. If you want to, how tough is it to remove the barrel on this thing? It's very hard to find any instructional videos on the subject but it would sure make o ring replacement easier! Love this pistol but seems like a pain in the neck to work on.
 
HW guns might carry life time warranties.

Suggest contacting the dealer you purchased it from and address your loss of power concern.

You can also mention you checked the breech o ring and it was fine but was still shooting at the reduced speed then got shot out.

If you are instructed to send back for warranty be sure to include a note stating the velocity you were getting before it lost power and after and with what weight pellet.