Wolverine losing power

I have a 2 year old Wolverine R in .177. It was shooting the JSB redesign 13.43 at 810 to 815 FPS. Now I am down to 770 FPS. The breach seal seems good, I feel no air escaping there, and the spread between shots is < 10 FPS. The regulator is still at the factory setting of 145.

Any ideas on what is going on? Does the hammer spring/throw need adjusted? Could the regulator need serviced?

Thanks