Bunker Prices Forecast to Peak in Q1 Before Declining Over Remainder of 2025

by Ship & Bunker News Team
Friday January 31, 2025

Bunker prices are expected to peak in the first quarter of 2025 before declining steadily over the course of the year and throughout 2026, according to the latest analysis from Ship & Bunker.

Taking into consideration the latest oil price forecast from the U.S. Energy Information Administration (EIA) and the historical relationship between Brent and bunkers, global average VLSFO prices at primary bunkering ports are forecast to average around $596/mt in Q1 2025.

Prices are then forecast to decline over the course of the year and average around $580/mt across full year 2025.

That compares with a global average of $626/mt seen in 2024 as a whole.

Those operating in Europe also need to take into account EU ETS compliance, with the latest information from environmental market specialist Grey Epoch Europe indicating for 2025 compliance will add $159-181 to every tonne of bunker fuel burned on intra-EU voyages.

Ship & Bunker's Bunker Price Forecast, January 2025 includes forecasts for global VLSFO, HSFO and MGO prices along with the individual markets of Singapore, Fujairah, Rotterdam, and Houston.

It is a new addition to its range of Bunker Intelligence reports and can be found here: https://shipandbunker.com/bi/bunker-price-forecasts/bunker-price-forecast-january-2025

Ship & Bunker News Team
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