Intra-month price volatility analysis

May 2010 proved to be a highly volatile month for bunker prices, as demonstrated by the table below.

In an anaylsis of the Bunker Index (BIX) - the daily average global bunker price expressed in US$ per metric tonne - the table shows that the difference between the lowest and highest price last month was $67.83 per tonne.

The May differential is the highest in the last 14 months, surpassing the $66.56 recorded in May 2009.

The BIX peaked on May 4th at $625.99 per tonne, before plummeting to the months's lowest price of $558.16 per tonne on May 26th.

Month	Low-High Diff.	Low	High
May 2010	67.83	558.16	625.99
Apr 2010	33.33	574.65	607.98
Mar 2010	14.79	557.88	572.67
Feb 2010	33.25	530.62	563.87
Jan 2010	41.68	545.45	587.13
Dec 2009	31.84	534.52	566.36
Nov 2009	9.54	547.65	567.95
Oct 2009	48.22	501.05	552.51
Sep 2009	32.15	493.40	525.55
Aug 2009	24.11	509.70	533.81
Jul 2009	45.03	460.73	505.76
Jun 2009	43.44	457.87	501.31
May 2009	66.56	383.18	449.74
Apr 2009	19.81	370.12	389.93

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Intra-month price volatility analysis

Fuels & Propulsion

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