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Wed 9 Mar 2011, 16:09 GMT

Prices plummet in the Med


BIX MED falls for only the second time this month as MGO prices drop $23.30.

The Bunker Index Med (BIX MED) - Bunker Index's average bunker price for ports in the Mediterranean - plummeted $15.03, or 1.9 percent, today to $777.90 per tonne as bunker prices decreased for only the second time this month following yesterday's fall in the price of crude and ICE gasoil.

Marine gasoil (MGO) prices recorded the most significant declines in the region, dropping $28-$31 in Algeciras, Augusta, Fos, Genoa, Gibraltar, La Spezia and Venice.

As a result, the Bunker Index MGO (BIX MED MGO) - the average price for marine gasoil (high and low sulphur) in the Mediterranean - plummeted $23.30, or 2.4 percent, to US$988.00 per tonne.

The Bunker Index Med 380 CST (BIX MED 380 CST) - the average price for 380-cst in the region - decreased by $10.00, or 1.6 percent, today to $623.50 per tonne from $633.50 per tonne on Tuesday. The Bunker Index Med 180 CST (BIX MED 180 CST) fell by $9.00, or 1.4 percent, to $656.00 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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