Bunker prices retreat after initial panic, but they’re still very high
- Average VLSFO price at top 20 hubs is $856 per tonne, down 19% vs wartime high but still 73% above January-February average
- Average HSFO price at top 20 hubs is $708.50 per tonne, down 23% vs high, up 66% vs January-February
- VLSFO prices in Houston have moderated much less than in Singapore, Fujairah and Rotterdam
The price of bunker fuel has pulled back from the peak in March. However, fuel costs are still up around 70% versus prewar levels. This has led to demand destruction and lower sales volumes at key refueling hubs
