Fuel prices at some stations in Vicksburg dropped under the national average by more than 20 cents this morning, signaling another round in a pricing strategy first seen before Memorial Day weekend.

A gallon of regular unleaded was for $2.28 at the new Murphy Express, which opened about three weeks ago, at Kroger and at stations located at Kangaroo-branded convenience stores.

Prices at smaller, independent outlets which purchase gas more often were remaining at $2.39 or more, continuing an upward trend.

Prices averaged $2.44 in Mississippi — with Jackson at about $2.43 — and $2.61 nationally.

For about 10 days after the opening of the Murphy’s location at U.S. 61 South and Pemberton Square Boulevard, gas in Vicksburg trended down to $2.03 per gallon, about 30 cents below other outlets and perhaps the cheapest in America. Speculation was that station owners were engaging in price matching, selling fuel below their costs.

The trend ended as suddenly as it began and pump prices jumped 20 cents in two days.

It was not clear what triggered today’s reductions.

On world markets, oil prices have jumped since earlier in the year despite inventories at 19-year highs and low demand in the United States. Some investors have flocked to commodities as a hedge against inflation, while industry analysts have predicted further jumps in the price amid brighter outlooks on the economy.

Crude oil traded for $69.59 a barrel on the New York Mercantile Exchange this morning, up $1.50 since Monday. Gasoline for July delivery stood at about $1.95, up 0.18 of a cent. Natural gas for July delivery was down nearly 3 cents at $3.703 per 1,000 cubic feet.   

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Contact Danny Barrett Jr. at dbarrett@vicksburgpost.com