Ashland Consumer Markets notified customers on May 14 that prices for Valvoline brand finished lubricants will increase effective June 4.
This price adjustment is a result of various market factors, including but not limited to, additional cost increases in base stocks and other raw materials, Ashland stated in its letter to customers. The letter didnt disclose the amount of the price increase.
Several major oil companies-Shell, Chevron, Phillips 66, and Citgo-previously notified U.S. customers of finished lubricant price increases that would take effect in late May, most citing increases in base oil and additives costs.
Last year saw several rounds of finished lube price increases that went into effect from early February through early March, mid-April through early May, mid-June through early July, and throughout September.