Spot prices for low sulfur bunker fuel declined for a fourth consecutive week, down roughly 3 percent or $18 over the period, according to daily BunkerVision price data via international marine fuel oil broker LQM Petroleum Services.
The average price for high sulfur bunker fuel in Rotterdam, a global indicator of bunker prices, was $590.30 per metric ton in the week ending Oct. 11, sliding 0.8 percent or $4.80 from last week. One metric ton is equivalent to about 6.4 barrels or 300 gallons. High sulfur bunker fuel prices have not seen an increase of more than 20 cents in six weeks. The average spot price for high sulfur fuel is down 5.3 percent year-over-year and is 0.9 percent or $5.45 per metric ton below the price at the beginning of 2013.
Low sulfur spot prices averaged $607.60 per metric ton in the week ending Oct. 11, inching down 0.2 percent or $1.50 per metric ton from the week before. This is the smallest weekly decline in four weeks. The current price is down 8.6 percent from the same week in 2012, and is 2.2 percent or $13.78 lower than the price at the beginning of 2013.