Shift in marine fuel use to push diesel prices up - News Summed Up

Shift in marine fuel use to push diesel prices up


Shift in marine fuel use to push diesel prices up 0 SHARES Share it! The Department of Energy (DOE) is not keen on giving its own calculation of cost impacts, but it indicated that some products – including diesel may incur significant price adjustment. The shift in maritime fuel to a product with less sulfur content is mandatory globally starting March 2020 based on agreement reached by the International Maritime Organization (IMO),but there is a proposal in the Philippines to delay it by at least five years or until 2025. Domestically, it is the Maritime Industry Authority (MARINA) that has been working on a roadmap to delay the 0.5-percent sulfur content for the domestic shipping industry. For diesel in particular, it was noted that prices will go higher because this may be used as a “blending component” to lower the sulfur content in existing fuels being used in shipping.


Source: Manila Bulletin June 18, 2019 14:03 UTC



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