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The two tables below examine the intra-month price volatility of global bunker prices between January 2010 and January 2012.

The first table looks at the low-high differential of the daily Bunker Index (BIX) in each month, whilst the second table records the difference in price between the BIX on the first and last day of each month.

In a comparison of low-high differentials, January 2012 proved to be the most volatile month since October 2011, but the fourth least volatile month since December 2010, with a low-high differential of $32.87.

The most volatile month last year was February, where the low-high differential was $77.51 per tonne and the BIX price rose by $75.04 between the first and last day of the month.

All prices are in USD per metric tonne.

Month	Low-High Differential ($)	Low ($)	High ($)
Jan-12	32.87	825.20	858.07
Dec-11	26.07	804.06	830.13
Nov-11	30.28	819.92	850.20
Oct-11	42.17	790.04	832.21
Sep-11	32.43	801.43	833.86
Aug-11	42.42	806.42	848.84
Jul-11	34.77	812.66	847.43
Jun-11	44.72	798.53	843.25
May-11	56.39	803.55	859.94
Apr-11	44.61	814.95	859.56
Mar-11	37.1	771.53	808.63
Feb-11	77.51	695.08	772.59
Jan-11	40.05	648.23	688.28
Dec-10	32.11	617.5	649.61
Nov-10	30.47	599.97	630.44
Oct-10	15.38	590.42	605.80
Sep-10	18.18	563.2	581.38
Aug-10	37.4	560.59	597.99
Jul-10	22.55	556.51	579.06
Jun-10	23.46	563.73	587.19
May-10	67.83	558.16	625.99
Apr-10	33.33	574.65	607.98
Mar-10	14.79	557.88	572.67
Feb-10	33.25	530.62	563.87
Jan-10	41.68	545.45	587.13

Month	Price Change ($)	Price Change (%)	First Price($)	Last price($)
Jan-12	+23.75	+2.9	825.20	848.95
Dec-11	-6.92	-0.8	825.86	818.94
Nov-11	+5.14	+0.6	822.54	827.68
Oct-11	+32.63	+4.1	797.22	829.85
Sep-11	-25.67	-3.1	830.03	804.36
Aug-11	-18.83	-2.2	848.84	830.01
Jul-11	+30.50	+3.7	814.40	844.90
Jun-11	-12.76	-1.5	827.65	814.89
May-11	-42.76	-5.0	859.94	817.18
Apr-11	+44.61	+5.5	814.95	859.56
Mar-11	+37.03	+4.8	771.53	808.56
Feb-11	+75.04	+10.8	695.08	770.12
Jan-11	+38.76	+6.0	649.52	688.28
Dec-10	+26.92	+4.4	617.5	644.42
Nov-10	+21.67	+3.6	599.97	621.64
Oct-10	+11.21	+1.9	590.42	601.63
Sep-10	+14.19	+2.5	567.19	581.38
Aug-10	-20.9	-3.5	589.82	568.92
Jul-10	+5.58	+1.0	569.55	575.13
Jun-10	+4.99	+0.9	569.65	574.64
May-10	-53.11	-8.5	625.99	572.88
Apr-10	+33.33	+5.8	574.65	607.98
Mar-10	+11.45	+2.0	560.4	571.85
Feb-10	+5.04	+0.9	545.59	550.63
Jan-10	-25.54	-4.5	570.99	545.45