Roadgrip Bitumen Emulsion (RS 1) Drum in Mathura

Petroleum product prices in India remain steady amid geopolitical tensions in the Middle East. While supply is currently uninterrupted, the threat of a Strait of Hormuz blockade is prompting India to prepare contingency plans, including export curbs. Strategic reserves and sourcing diversification may shield domestic markets from immediate disruption, but global pricing remains volatile.

Petroleum product prices in India remain steady, but rising geopolitical tensions between Israel and Iran have pushed crude oil prices to a two-month high. While India’s strategic reserves and advance procurement offer short-term protection, elevated freight costs and risks to the Strait of Hormuz may impact pricing and supply chains.

Bitumen prices showed mixed trends globally. While international prices remained stable or slightly firm, India’s bulk bitumen saw mild price pressure due to early monsoons. Drum bitumen demand remained steady. Geopolitical tensions, Iran’s logistical issues, and OPEC+ policy direction are key variables for short-term price movement.

Bitumen prices in India range from ₹32,290/MT to ₹48,382/MT, while base oil and lubricant rates show regional variation. Crude oil prices fell sharply in May 2025, but refining margins increased, boosting profitability for Indian refiners. Demand remains strong across petroleum and gas segments, with CGD leading recovery.Market analysts expect continued growth in FY26–27, with key players like RIL, GAIL, and GOLI well-positioned to benefit.

Global bitumen and crude oil markets experienced mixed trends last week. Crude prices dipped due to rising inventories and demand concerns. Bitumen prices rose in Singapore but fell in India. Iran faces production issues, while geopolitical tensions and OPEC+ supply changes contribute to market volatility heading into June.

Global bitumen prices declined last week, driven by falling Brent crude and weak demand, especially from China. Indian bitumen prices dropped by $7–$8 on May 1. Despite geopolitical tensions, oversupply risks and economic stagnation continue to pressure prices. Market may stay bearish unless crude stabilizes above $60.

Petroleum product prices in India show wide regional and packaging variations, with VG40, base oils, and lubricants trading at distinct levels. OPEC+ output hike and subdued demand are shaping global supply dynamics. Despite regional geopolitical tensions, oil prices remain stable due to unaffected supply chains and sufficient global inventories.

Crude oil prices dropped sharply, with Brent at $66.18 and WTI at $62.45 per barrel, amid rising supply and weak demand. Bitumen held steady across most Asian markets, though Bahrain saw a $50 drop. Indian prices remained firm, supported by seasonal construction demand, despite overall market caution.

Petroleum prices showed mixed movement this week, with Brent crude closing at $66.48 and bitumen prices increasing slightly in India due to strong local demand. While no immediate disruptions have been reported from Middle Eastern tensions, underlying geopolitical uncertainty continues to influence supplier sentiment and price volatility, especially in markets like Iran. U.S.–China tensions and ongoing Iran-U.S. negotiations are also shaping market forecasts and investor behaviour.