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The Med Bunker Index (APB) - Bunker Index's average bunker price (ABP) for ports in the Mediterranean - plummeted $17.97 to $361.88 per tonne today as prices fell in all Mediterranean ports for every major grade of marine fuel.

Following yesterday's $4.45 per barrel decrease in the price of WTI crude oil, a $27.50 decline in the value of gasoil and a $15.75 fall in Med cargo levels, the price of 380-centistoke(cst) fell by between $12 and $17 per tonne in Algeciras, Augusta, Ceuta, Fos, Genoa, Gibraltar, Istanbul, Off Malta and Piraeus today, with 180-cst prices also showing similar double-digit drops of $10-17 per tonne.

The largest price decreases were seen in the marine distillates market, with marine diesel oil (MDO) and marine gasoil (MGO) falling by $28 and $36 in Gibraltar respectively. Similar price declines were seen in Algeciras and Ceuta with Fos, Genoa and Off Malta also recording a fall of over $20 for the price of MGO.

As a result the Med MGO Index - Bunker Index's average bunker price for MGO in the Mediterranean - recorded the largest decline in price of $23.67 to $469 per tonne. Meanwhile, the IFO 380 Index fell by $14.56 to $299.33 per tonne and the IFO 180 Index by $14.33 to $317.11 per tonne.

The Med Bunker Index is published on a daily basis at the following times:

12:30 GMT (Greenwich Mean Time) / UCT/UTC (Universal Coordinated Time)
13:30 BST (British Summer Time) / WET (Western European Time)
14:30 CET (Central European Time)
15:30 EET (Eastern European Time)
07:30 EST (Eastern Standard Time)
04:30 PST (Pacific Standard Time)

A full summary of the Med Bunker Index prices are available by clicking on the following link: Med Bunker Index Price Summary