Spot rates for high and low sulfur bunker fuel rebounded in the week of May 3 after sliding earlier in the month, according to daily Bunkervision price data via international marine fuel oil broker LQM Petroleum Services, Inc.
The average price for high sulfur bunker fuel was $587.70 per metric ton. One metric ton is equivalent to about 6.4 barrels or 300 gallons. This spot rate increased 1.7 percent or $9.80 from the week before and is currently 15.2 percent lower than the same week in 2012. In the previous three weeks, high sulfur bunker fuel fell 5 percent or $30. The price is now 1.4 percent or $8 lower than it was at the beginning of 2013.
Low sulfur spot prices in Rotterdam had an average of $600.20 per metric ton last week, up 1.6 percent or $9.50 from the week before. Prices of this fuel type fell a total of 5.8 percent or $36 in the second and third weeks of April. Despite this week’s increase, the current price is down 19.3 percent from the same week in 2012 and 3.4 percent or $21 lower than in the first week of 2013.