Several base oil producers communicated posted price increases this week, thought to have been prompted by steep crude oil prices, along with prospects of tightening vacuum gas oil feedstock availability and rising production costs. A snug supply and demand scenario was lending additional support to posted prices, particularly in the case of the API Group II grades.
Late last week, Motiva implemented a posted price increase of 15 cents per gallon on its API Group II aramcoPRIMA 220 cut and 25 cents/gal on its aramcoPRIMA 600 cut, with an effective date of April 15.
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