Spot prices for high sulfur bunker fuel declined for a third consecutive week in the week ending Sept. 20, to the lowest level since July 5, according to daily BunkerVision price data via international marine fuel oil broker LQM Petroleum Services. High sulfur prices have decreased in six of the past eight weeks.
The average price for high sulfur bunker fuel in Rotterdam, a global indicator of bunker prices, was $594.90 per metric ton, down 0.3 percent or $1.80 from last week and is $10.40 below the price from three weeks ago. One metric ton is equivalent to about 6.4 barrels or 300 gallons. The average spot price for high sulfur fuel is down 7.4 percent year-over-year and is 0.1 percent or 85 cents per metric ton below the price at the beginning of 2013.
Low sulfur spot prices averaged $621.30 per metric ton in the week ending Sept. 6, slipping 0.7 percent or $4.20 per metric ton from the week before. It has remained above $620 per metric ton for the past four weeks. The current price is down 11.2 percent from the same week in 2012, and is flat compared with the beginning of 2013.