January 24, 2018
Volume 1 Issue 4
More U.S. Finished Lube Price Hikes
Several companies notified U.S. customers of upcoming increases in prices for finished lubricants, including ExxonMobil, which will raise prices by up to 6 percent effective Feb. 26. Pinnacle Resources will increase prices 20 to 25 cents starting Jan. 30. Chemlube will bump up prices 20 to 25 cents per gallon effective Feb. 5. Safety-Kleen Systems Inc./Kleen Performance Products will raise prices by 5 to 8 percent effective Feb. 19. Martin Lubricants will increase prices by 4 to 7 percent per gallon effective Feb. 19. Citgo will increase prices 5 to 8 percent effective Feb. 23. Omni Specialty Packaging will raise prices by 6 to 8 percent on both bulk products and packaged goods effective Feb. 28. Previously, Shell informed U.S. customers about a price increase of up to 5 percent effective Feb. 19.
From Other Editions of Lube Report
Denver, Colorado-based private equity firm Lariat Partners invested in Offen Petroleum, a fuels, lubricants and logistics services provider operating in Colorado and the Rocky Mountain region. The investment will enable Offen to reach into new markets through greenfield locations and acquisitions. Brian Coffman was appointed president and CEO of Motiva Enterprises, replacing Dan Romasko. Coffman previously served as senior vice president of refining for Andeavor Corp., formerly known as Tesoro.