Petroleum Jelly Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Petroleum Jelly in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Petroleum Jelly Price Trend for the Second Half of 2023


Petroleum jelly is a direct residue of oil rigs after the crude oil distillation process is done, so the fluctuations in the crude oil markets are also reflected in the petroleum jelly prices. During the said period of the H2 of 2023, the prices were observed to be fluctuating in the Asian markets.

Petroleum Jelly Price Chart

Petroleum Jelly Price Trends

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The petroleum jelly prices surged in the third quarter as OPEC+ put restrictions on oil exports to stabilize the global oil markets, and the edge the Indian and Chinese oil industries received by importing the sanctioned Russian oil was also not helping anymore. So, the petroleum jelly market was very firm throughout the third quarter in both India and China. However, the same cannot be said about the last quarter, as the prices here started to show reverse fluctuations. This was mainly due to excessive inventories and subdued demands. Overall, mixed market sentiments were witnessed.


The European petroleum jelly market behaved in a very similar manner to the Asian market. The market prices here too varied differently in both quarters. The third quarter was more positively inclined than the fourth quarter. And this market behavior was primarily linked to the crude oil supplies in the region.

The third quarter saw a global surge in oil prices, which eventually also pulled the petroleum jelly prices up. However, the fourth quarter was completely opposite as the prices during this time majorly fluctuated at the lower end of the curve. A dip in demand led to this downfall in the petroleum jelly price curve.

North America

The North American petroleum jelly market closely resembled its Asian and European counterparts during the second half of the year 2023. The prices here, too, fluctuated as per the fluctuations in the crude oil market. The first three months were firmer, and the suppliers withheld the stocks to manipulate the market in the winter months. However, the Red Sea issues changed the dynamics by curtailing offshore trade, and this made the market dependent on domestic consumption. As a result of this, the petroleum jelly prices came crashing down in the subsequent quarter. Overall, varying market sentiments were observed.

Analyst Insight

According to Procurement Resource, Petroleum Jelly price trends are likely to suffer more with dull demands going forward in the coming months as well.

Petroleum Jelly Price Trend for the First Half of 2023


The first quarter witnessed a consistent growth in the prices of petroleum jelly as the onset of the Chinese festival season helped in boosting the demand. In addition to this, the growth of packaging materials also aided the upward journey of petroleum jelly prices. The second quarter, however, failed to maintain this momentum as the prices began to decline.

The market witnessed a consistent decline during this quarter as the cost of raw materials failed to provide the market with the required support. Additionally, the falling construction and manufacturing activities proved to be unfavorable for the petroleum jelly price trend.


The surge in demand for petroleum jelly supported the rise in its price trend in the first quarter of 2023. In many countries, the laborers went on a strike that hampered the production rates and dried up the inventory levels, benefitting the rise in the prices of petroleum jelly. However, in the second quarter, the market winds changed, and demand for petroleum jelly dropped significantly. The major cause of this slump was the poor performance of the automobile and construction industries. Amid the weak economic conditions, the purchasing potential of buyers also took a hit, negatively affecting the prices of petroleum jelly.

North America

The North American rubber, packaging, and other related sectors had a fruitful first quarter, which helped in the growth of the petroleum jelly price trend. The supply was only able to cater to the demand of the domestic vendors; thus, the rise in the number of inquiries from overseas players supported the rise in the prices of petroleum jelly. Unlike the Asia-Pacific and European countries, the prices maintained this trajectory in the second quarter, too. A significant contributor to the incline in prices during this phase was the rise in the market share of battery-based electric cars.

Analyst Insight

According to Procurement Resource, the price trend of Petroleum Jelly is expected to oscillate in the upcoming months as the demand from the downstream industries and overall market dynamics seem uneven.

Procurement Resource provides latest prices of Petroleum Jelly. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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In appearance, Petroleum Jelly, is a semi-solid substance, which is a mixture of hydrocarbons (with carbon numbers mainly higher than 25). It is basically a mixture of mineral waxes and oils. The melting point of Petroleum Jelly lies somewhere between 40 and 70 °C (105 and 160 °F). Moreover, it does not oxidise upon exposure to air. It is widely used as a topical ointment or skin protectant owing its healing properties.

Product Details

Report Features Details
Product Name Petroleum Jelly
Industrial Uses Personal care,ointment bases for veterinarian usage, Dermatological and opthalmic, creams and hand cleansers.
Synonyms 8009-03-8, Petrolatum, White petrolatum, Soft paraffin
Supplier Database Sasol Limited, Unilever PLC, Unisynth Oil Refinery India Ltd. (Unisynth Group), Raj Petro Specialities Pvt. Ltd, Sonneborn LLC, Eastern Petroleum Pvt. Ltd, Unicorn Petroleum Industries Pvt. Ltd, Kerax Limited
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Process

  • Production of Petroleum Jelly via Distillation

In order to produce Petroleum Jelly, the waxy petroleum material formed on oil rigs is used as a starting material. This crude material, which is made up of hydrocarbon mixture, undergoes vacuum distillation. This leaves behind a still residue, which is finally filtered using bone char to produce Petroleum Jelly.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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