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Fri 1 Oct 2010, 13:23 GMT

Med average up $14.67 per tonne


BIX MED rises 2.6 percent as bunker prices surge in the Mediterranean.

The Bunker Index Med (BIX MED) - Bunker Index's average bunker price for ports in the Mediterranean - jumped $14.67 per tonne, or 2.6 percent, to $571.25 per tonne today as bunker prices surged in the region as a consequence of yesterday's $2.11 per barrel gain in the price of WTI crude and $19.00 per tonne increase in the price of gas oil.

The Bunker Index Med 380 CST (BIX MED 380 CST) - the average price for 380-centistoke in the region - increased by $10.61 to $466.00 per tonne and the BIX MED 180 CST - the average 180-cst price in the Mediterranean - rose by $11.00 to $494.63 per tonne.

IFO 380 and IFO 180 prices in the region were $10-$12 per tonne higher in Algeciras, Fos, Genoa, Gibraltar, Istanbul, Limassol, and Piraeus.

The highest price gains were recorded for distillate fuel grades as the Bunker Index Med MGO (BIX MED MGO) - the average price for marine gas oil (high and low sulphur) in the region - rose by $23.20, or 3.1 percent, to $740.70 per tonne today.

Marine gas oil (MGO) prices were $21-$25 per tonne higher in Algeciras, Augusta, Fos, Genoa, Gibraltar, Istanbul, Limassol and Piraeus.

The price of MGO in the Mediterranean has increased on average by $39.50, or 5.6 percent, since Thursday, September 23rd.

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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