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The Bunker Index Med (BIX MED) - Bunker Index's average bunker price for ports in the Mediterranean - plummeted $15.65, or 2.88 percent today, to $527.89 per tonne as bunker prices tumbled for the fourth consecutive day in the region.

380-centistoke (cst) prices dropped by $15 per tonne and over in the Mediterranean ports of Algeciras, Augusta, Fos, Genoa, Gibraltar, Istanbul, Limassol, Off Malta and Piraeus.

180-cst prices were over $15 lower in Fos, Genoa, Istanbul, 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 $17.33 to $452.56 per tonne - the largest index fall in Europe today, whilst the Bunker Index Med 180 CST (BIX MED 180 CST) fell by $14.67 to $477.44 per tonne.

The BIX MED has now plummeted $34.77, or 6.2 percent, in just four days from $562.66 per tonne on Monday.

The BIX MED 380 CST has dropped $28.44, or 5.9 percent over the same period, whilst the BIX MED 180 CST is now $28.34, or 5.6 percent lower than on Monday.

In the distillates market today the Bunker Index MGO (BIX MED MGO) - the average price for marine gasoil (high and low sulphur) in the Meditteranean - declined by $15.84 to $631.08 per tonne from $646.92 per tonne the previous day.

The most significant price declines for MGO were seen in Augusta, Fos, Genoa, Istanbul, Piraeus and Malta, where levels fell by between $17 and $26 per tonne.