Roadgrip Bitumen Emulsion (SS 1) in Pithampur

Petroleum and bitumen prices are on an upward trend in India amid geopolitical tensions, Red Sea disruptions, and strong domestic infrastructure demand. Crude discoveries and global policy shifts add to volatility. While Indian prices rise, European bitumen prices remain weak. Market outlook stays firm, though tempered by economic and geopolitical risks.

Oil and bitumen prices continue to be influenced by global economic conditions. While crude oil remains volatile, bitumen prices are expected to rise in India by mid-March. Key developments include Iran’s rising bitumen demand, the U.S. maintaining record-high oil production forecasts, and India’s increasing crude oil imports. Experts predict that crude oil will remain within the $60-$80 range shortly, with volatility persisting in the bitumen market.

Bitumen prices remain volatile due to fluctuating crude oil prices and supply chain disruptions. OPEC+ supply cuts and geopolitical factors are influencing demand trends. While prices declined in India, refinery price hikes could trigger rebounds. Experts predict continued volatility, with geopolitical and economic developments shaping future price movements globally.

China’s crude oil imports fell 5% in early 2025 due to U.S. sanctions and port restrictions, raising freight costs and limiting supply. Refined product exports dropped 18%, while LNG imports declined 7.7%. However, imports are expected to rebound in March-April as refiners adapt, securing alternative crude and attracting more non-sanctioned tankers.

Crude oil prices saw fluctuations, ending at $72.24 per barrel. Singapore’s 180CST bitumen fell to $473, while Iranian bitumen prices rose due to competition for raw materials. Iraq plans to boost exports, raising oversupply concerns. India’s bitumen market remains uncertain, with potential price corrections in early March.

India's crude oil demand is projected to rise significantly, reaching 6.5-7 million bpd. While domestic refining expansions aim to reduce import dependency, geopolitical shifts and global oil price volatility pose challenges. With energy security in focus, India's strategic investments in biofuels and refining infrastructure will shape future market dynamics.

Crude oil surged to $76 per barrel amid geopolitical tensions and supply concerns. Bitumen prices showed mixed trends across markets. India’s crude oil output fell 1.2%, while petroleum production rose 8.3%. Market uncertainties persist due to geopolitical events, with bitumen prices expected to decline in March if crude stabilizes.

India’s crude oil import bill rose by 2.7% in FY25 due to higher demand and reduced Russian crude discounts. Refiners are diversifying sourcing, increasing US oil and LNG imports. Geopolitical tensions, OPEC+ cuts, and price volatility continue to impact costs. Market trends indicate a shift toward energy security and diversification.

Roadgrip Bitumen (VG40) in Mangalore is priced at ₹38,559.32/MT, while Roadgrip Bitumen (VG30) in Mundra is available at ₹38,300/MT. In Chennai, Refinery Bitumen (VG30) is priced at ₹45,352/MT, and Refinery Bitumen (VG40) is listed at ₹48,152/MT.