Quarterly Bunker Pricing Review
Quarterly Review: Fluctuations in Bunker Prices from Jan 1 - Mar 31, 2023
59 days ago
As per the data provided by bulugo.com, there have been fluctuations in bunker prices over the last three months from January 1st to March 31st. The prices of marine fuels have been influenced by a variety of factors, including supply and demand dynamics, global economic conditions, and geopolitical tensions.
During the first quarter of 2023, the prices of marine fuels have been generally on an upward trend, particularly in February and March. This is mainly due to the tightening of supply and rising demand for marine fuels, driven by an increase in global trade and economic activity.
In January, the prices of marine fuels remained relatively stable, with some fluctuations across different regions. However, by mid-February, prices began to rise steadily, and this trend continued throughout March. According to bulugo.com’s historic pricing data, the average price of VLSFO (Very Low Sulfur Fuel Oil) rose by over 20% between mid-February and mid-March.
This upward trend in bunker prices can be attributed to several factors, including the continued impact of the COVID-19 pandemic, geopolitical tensions, and supply chain disruptions. These factors have led to an increase in demand for marine fuels, particularly in the Asia-Pacific region.
Overall, the first quarter of 2023 has been characterised by an upward trend in bunker prices, with fluctuations across different regions. It is likely that this trend will continue in the coming months, although the extent to which prices will rise or fall will depend on a range of factors, including global economic conditions, supply and demand dynamics, and geopolitical tensions.
Acess free historic and live bunker prices: Bulugo
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