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Fri 31 Dec 2010, 13:17 GMT

Med MGO average down $11.10 per tonne


Marine gas oil prices plummet in the Mediterranean on the last day of the year.

The Bunker Index Med MGO (BIX MED MGO) - Bunker Index's average price for marine gas oil (MGO) in the Mediterranean - fell $11.10 per tonne today as prices tumbled across the region for distillate grades following yesterday's $14.24 drop in the price of gasoil on the IntercontinentalExchange (ICE) to $765.75 per tonne.

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

The Bunker Index Med (BIX MED) - Bunker Index's average bunker price for ports in the Mediterranean - plummeted $8.66 to $614.62 per tonne.

Meanwhile, the Bunker Index Med 380 CST (BIX MED 380 CST) - the average price for 380-cst in the region - decreased by $5.94 today to $500.56 per tonne from $506.50 per tonne on Thursday. The Bunker Index Med 180 CST (BIX MED 180 CST) fell by $4.13 to $526.75 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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