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Mon 20 Sep 2010, 14:21 GMT

MGO prices tumble in the Med


BIX MED MGO falls $9.60 per tonne as distillate levels plummet across the region.

The Bunker Index Med MGO (BIX MED MGO) - Bunker Index's average price for marine gas oil (MGO) in the Mediterranean - fell $9.60 per tonne today as prices dropped across the region for all fuel grades.

MGO prices recorded the most significant price drops today with distillate levels plummeting by $10-$14 per tonne in Algeciras, Augusta, Fos, Genoa, Gibraltar, Limassol, Off Malta and Piraeus.

The Bunker Index Med (BIX MED) - Bunker Index's average bunker price for ports in the Mediterranean - plummeted $5.79 to $542.94 per tonne.

Prices in the region have declined on average by $9.91 per tonne since September 15th following price declines over three consecutive days.

During the same period MGO prices have decreased by $13.50, from $710.50 per tonne to $697.00 per tonne.

Meanwhile, the Bunker Index Med 380 CST (BIX MED 380 CST) - the average price for 380-cst in the region - decreased by $3.11 today to $448.22 per tonne. The Bunker Index Med 180 CST (BIX MED 180 CST) fell by $3.22 to $476.00 per tonne.

For further information regarding regional and global indices published by Bunker Index, please click on the following link below.

http://www.bunkerindex.com/prices/indices.php

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