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Bunker prices slide to seven-year low

The price of marine fuel is dropping alongside the price of oil, and on Monday it hit a seven-year low, writes Seatrade Global.

Photo: Ed Wray/AP/POLFOTO/arkiv

The sliding oil price has made its mark on the global prices for bunker fuel, which hit a seven-year low this Monday. At this point, a ton of bunker fuel cost USD 168.5 on average, measured with the bunker index in Singapore, 380 Centistoke Bunker Fuel Spot Price, writes Seatrade Global. The last time that prices fell to similar levels below USD 200 per ton, was the 31st of December, 2008, where the price was at USD 198, writes the media.

The prices have dropped quickly and in line with the plunge in the price of crude oil, which came to USD 36.6 for a barrel of Brent on Tuesday. At the end of November, a ton of marine fuel cost USD 225.5, and from there it fell to USD 195.5 on the 8th of December, and further down to USD 168.5 on Monday of this week.

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