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The Bunker Index Med (BIX MED) - Bunker Index's average bunker price for ports in the Mediterranean - plummeted $11.12 to $532.09 per tonne as bunker prices tumbled for the fourth consecutive day in the region.

380-centistoke (cst) and 180-cst prices dropped by $10 per tonne and over in the Mediterranean ports of Augusta, Fos, Novorossiysk, 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 $10.22 to $463.00 per tonne, whilst the Bunker Index Med 180 CST (BIX MED 180 CST) also fell by $10.22 to $483.22 per tonne.

The BIX MED has now plummeted $25.30 in just four days from $557.39 per tonne at the close of business on Tuesday 19th January.

In the space of two weeks, the BIX MED has now tumbled $51.91, or 8.9 percent, since reaching $584.00 per tonne on Monday January 11th.

Over the same two-week period, the BIX MED 380 CST has dropped $47.78, or 9.4 percent, from 510.78 on January 11th, and the BIX MED 180 CST is now $46.89, or 8.8 percent, lower than two weeks ago.

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 $13.64 to $646.18 per tonne from $659.82 per tonne the previous day.

The most significant price declines for MGO were seen in Augusta, Genoa, Novorossiysk, Off Malta and Piraeus where levels fell by between $17 and $22 per tonne.