Spot prices for low sulfur bunker fuel edged down in the week ending Sept. 6, but held on to most of the prior week’s $9 per metric ton increase, according to daily BunkerVision price data via international marine fuel oil broker LQM Petroleum Services. Low sulfur bunker fuel has not seen prices at this level since the week of May 10.
The average price for low sulfur bunker fuel in Rotterdam, a global indicator of bunker prices, was $625.25 per metric ton, inching down 0.2 percent or $1.05 from last week. One metric ton is equivalent to about 6.4 barrels or 300 gallons. The average spot price for low sulfur fuel is down 14 percent year-over-year but is 0.6 percent or $3.88 per metric ton above the price at the beginning of 2013.
High sulfur spot prices averaged $601.25 per metric ton in the week ending Sept. 6, slipping 0.7 percent or $4.05 per metric ton from the prior week. This is the eighth straight week with high sulfur prices above the $600-per-metric ton mark. The current price is down 8.8 percent from the same week in 2012, but up 0.9 percent or $5.50 from the beginning of 2013.