Gas prices break $2 barrier in Clark County

Gasoline prices dipped below the $2 a gallon barrier this weekend in Clark County as the ripple effects from a global collapse in oil prices wash up in consumers’ wallets.

The price for a gallon of regular gasoline hit $1.999 on Saturday at two Costco locations in Vancouver and at Hockinson Market in Brush Prairie, according to reports from readers and the price-tracking website washingtongasprices.com.

“There’s definitely a lot of people getting cash back from their fill-ups,” said Kelby Hubbard, an employee at the market. He said he’d seen quite a few customers taking advantage of the lower price Saturday.

Prices for regular at supermarket chains and other retailers that tend to sell at discounted prices are at $2.05 a gallon, while prices at major brands are trending between $2.25 and 2.59, according to the website.

Gasoline prices have been falling steadily in Washington since peaking last summer. The website shows prices have fallen from about $4 a gallon in early July to $2.385 a gallon Saturday afternoon.

Nationally, prices have fallen from a peak of nearly $3.70 in April to $2.145 Saturday, the site said.

Oil prices have plummeted by more than half since June as traders anticipate a glut of supply caused by increased production. U.S. crude fell 43 cents, or 0.9 percent, to close Friday at $48.36 a barrel in New York.

Fears about significantly cheaper oil have spooked some investors worried about global economic growth, but most economists remain optimistic that lower energy prices will benefit U.S. consumers and many businesses.

The Associated Press contributed to this report.