Bitumen Price Per Barrel
Bitumen price per barrel depends directly on the barrel (drum) size used in each market. Unlike crude oil, bitumen is normally sold per metric ton, not per barrel. However, many buyers calculate the price per barrel to compare costs, plan logistics, or estimate project budgets.
Because barrel sizes vary by country, the bitumen price per barrel is not a fixed global number.
Barrel Size Differences by Country
Different markets use different steel drum sizes based on handling conditions, transport methods, and available equipment:
Bangladesh: 150 kg steel drum
Vietnam: 195 kg steel drum
Some African markets: Smaller drums are used to allow manual handling due to limited lifting equipment such as forklifts
As a result, the number of barrels per metric ton changes depending on the drum size.
How to Calculate Bitumen Price Per Barrel
Bitumen is typically sold per metric ton (1,000 kg).
To calculate the price per barrel, you divide one metric ton by the drum weight.
Example (150 kg drum)
1 metric ton ÷ 150 kg = 6.67 barrels per ton
If the bitumen price is 340 USD per metric ton, then:
285 USD ÷ 6.67 = 42.72 USD per barrel
Bitumen price per barrel = 42.72 USD (FOB Bandar Abbas)
Bitumen 60/70 and 80/100 Price Per Barrel
The same calculation method applies to different penetration grades such as bitumen 60/70 and bitumen 80/100.
The final price per barrel depends on:
The grade of bitumen
The price per metric ton
The drum weight used for packing
The trade term (FOB, CFR, or CIF)
Although grades like 60/70 and 80/100 have different performance characteristics, the barrel price is purely a weight-based calculation, not a quality adjustment.
Important Notes for Buyers
Bitumen price per barrel is an estimated conversion, not a standard trading unit
Always confirm the drum weight and packing method
FOB prices exclude freight and insurance; CFR and CIF prices will increase the per-barrel cost
Density variations between grades can slightly affect calculations, but drum-based pricing is mainly weight-driven
Summary
Bitumen is sold per metric ton, but converting the price to a per-barrel basis helps buyers compare costs and plan logistics. Since barrel sizes vary by country, the bitumen price per barrel must always be calculated using the actual drum weight and agreed Incoterms.