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The Bunker Index Med (BIX MED) - Bunker Index's average bunker price for ports in the Mediterranean - plummeted $13.86 today, or 2.44 percent, to $553.40 per tonne as bunker prices tumbled in the region as a consequence of yesterday's $1.77 fall in the price of WTI crude.

380-centistoke (cst) and 180-cst prices dropped by $12 per tonne and over in the Mediterranean ports of Algeciras, Fos, Genoa, Gibraltar, Istanbul, Limassol, Off Malta and Piraeus.

As a consequence, the Bunker Index Med 380 CST (BIX MED 380 CST) - the average price for 380-cst in the region - decreased by $13.00 to $473.78 per tonne, whilst the Bunker Index Med 180 CST (BIX MED 180 CST) fell by $13.78 to $495.33 per tonne.

Marine gas oil (MGO) prices recorded the most significant price drops today with distillate levels plummeting on average by $16.30 per tonne as the Bunker Index MGO (BIX MED MGO) - the average price for marine gasoil (high and low sulphur) in the region - decreased to $663.85 per tonne from $680.15 the previous day.

The most significant price declines for low sulphur MGO were seen in Piraeus and Malta, where levels fell by $21 and $20 per tonne respectively. Low sulphur MGO prices in Algeciras, Istanbul, Limassol, and Novorossiysk were between $15 and $17 per tonne lower.

Meanwhile, standard sulphur MGO prices dropped by between $17 and $22 per tonne in Algeciras, Fos, Genoa and Piraeus.