The price of bitumen is influenced by a set of domestic and global factors, including crude oil prices, supply and demand, domestic and global economic conditions, geopolitical tensions, transportation laws, and natural events

The two main factors affecting the price of bitumen are fluctuations in the price of crude oil and supply and demand in the global market. Bitumen, as a by-product of crude oil, is directly affected by the price of oil, and any change in the price of oil is quickly reflected in the price of bitumen. On the other hand, global demand is another important factor that has a significant impact, especially in construction and road construction projects; the greater the demand for these projects, the higher the price of bitumen

The demand for bitumen at the global level depends on the economic situation of different countries; infrastructure development projects, which are considered one of the main uses of bitumen, are directly related to the economic situation of each country. Large countries such as India and China, which are among the largest consumers of bitumen in the world, play an effective role in determining the global price of bitumen with their demand levels.

Suppressing factors such as geopolitical tensions, natural disasters and adverse weather conditions can reduce demand and consequently lower the price of bitumen. For example, the Corona pandemic in recent years caused a significant decrease in the price of Middle Eastern bitumen, reducing its price from around $ 350 to $ 160

Finally, given that bitumen is mainly transported by sea, transportation rules and transportation costs also play an important role in determining the final price of bitumen, and changes in these factors affect the price