Several major and independent lubricant marketers have reduced prices on finished products in the United States in recent weeks. Industry insiders said the move was predictable given recent reduction in base stock prices and complicated in some cases by measures taken to combat the Covid-19 pandemic.
Sources also said the actions offered scant hopes of boosting sales volumes given the extent to which lubricant demand has fallen in the face of government lock-down orders.
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Citgo, Amalie Oil Co., Cam2 International, Sinclair Lubricants and Smitty’s Supply Inc. all reduced prices since the end of March according to industry sources, Jobbers World newsletter and notices obtained by Lube Report. In addition, ExxonMobil and Warren Oil implemented temporary volume allowance discounts.