---

The average price of marine gas oil (MGO) at the port of Singapore declined at a higher rate than the ICE Gas Oil average during the month of January, according to Bunker Index price data.

The ICE Gas Oil settlement average fell by $24.41 per tonne, or 2.60 percent, to $913.86 per tonne in January. During the same period, the Singapore MGO average decreased by $33.00 per tonne, or 3.51 percent, to $906 per tonne.

Between January 2013 and January 2014, the monthly MGO average in Singapore fell by $28 per tonne, or 3.0 percent, from $934 to $906 per tonne, whilst the ICE Gas Oil settlement average dropped by $45.54 per tonne, or 4.75 percent, from $959.40 to $913.86 per tonne.

Please find below tables of monthly ICE Gas Oil settlement averages and Singapore MGO averages between January 2012 and January 2014.

Month	ICE Gas Oil ($/mt)	+/-	+/-(%)
Jan 2014	913.86	-24.41	-2.60
Dec 2013	938.27	+22.75	+2.48
Nov 2013	915.52	-14.13	-1.52
Oct 2013	929.65	-8.95	-0.95
Sep 2013	938.60	+4.49	+0.48
Aug 2013	934.11	+22.56	+2.47
Jul 2013	911.55	+37.66	+4.31
Jun 2013	873.89	+14.15	+1.65
May 2013	859.74	-4.98	-0.58
Apr 2013	864.72	-48.97	-5.36
Mar 2013	913.69	-82.21	-8.25
Feb 2013	995.90	+36.50	+3.80
Jan 2013	959.40	+32.80	+3.54
Dec 2012	926.60	-10.46	-1.12
Nov 2012	937.06	-46.61	-4.74
Oct 2012	983.67	-2.71	-0.27
Sep 2012	986.38	+19.28	+1.99
Aug 2012	967.10	+76.52	+8.59
Jul 2012	890.58	+50.71	+6.04
Jun 2012	839.87	-93.11	-9.98
May 2012	932.98	-70.17	-6.99
Apr 2012	1003.15	-21.07	-2.06
Mar 2012	1024.22	+24.09	+2.41
Feb 2012	1000.13	+46.46	+4.87
Jan 2012	953.67	+28.28	+3.06

Month	Spore MGO ($/mt)	+/-	+/- (%)
Jan 2014	906	-33.00	-3.51
Dec 2013	939	+24.00	+2.62
Nov 2013	915	-5.00	-0.54
Oct 2013	920	+4.00	+0.44
Sep 2013	916	-4.00	-0.44
Aug 2013	919	+12.00	+1.32
Jul 2013	907	+31.00	+3.54
Jun 2013	876	+20.00	+2.34
May 2013	856	-1.00	-0.23
Apr 2013	857	-55.00	-6.03
Mar 2013	912	-62.00	-6.36
Feb 2013	974	+40.00	+4.28
Jan 2013	934	+16.00	+1.74
Dec 2012	918	-4.00	-0.43
Nov 2012	922	-26.00	-2.74
Oct 2012	948	-25.00	-2.57
Sep 2012	973	+13.00	+1.35
Aug 2012	960	+92.00	+10.60
Jul 2012	868	+48.00	+5.85
Jun 2012	820	-105.00	-11.35
May 2012	925	-63.00	-6.38
Apr 2012	988	-20.00	-1.98
Mar 2012	1008	+24.00	+2.44
Feb 2012	984	+29.00	+3.04
Jan 2012	955	+35.00	+3.80