Spot prices for high sulfur bunker fuel slipped to $584.75 per metric ton in the week of May 31, the lowest rate for this fuel type in the month of May, according to daily Bunkervision price data via international marine fuel oil broker LQM Petroleum Services Inc.
The average price for high sulfur bunker fuel in Rotterdam, a global indicator of bunker prices, inched down 0.2 percent or $1.35 per metric ton from the week before. One metric ton is equivalent to about 6.4 barrels or 300 gallons. During the last three weeks, which all saw declines, high sulfur bunker fuel prices fell 2 percent or $12.75 in total. The average spot price is currently 4 percent lower than the same week in 2012 and 1.8 percent or $11 lower than it was at the beginning of 2013.
Low sulfur spot prices averaged $607.50 per metric ton last week, edging down 0.2 percent or $1.20. During the preceding two weeks, prices dropped a total of 3.2 percent or $20. The current price is down 7 percent from the same week in 2012 and 2.2 percent or $13.88 from the first week of 2013.