Ashlands Valvoline and BPs Castrol joined the ranks of U.S. lubricant suppliers that recently notified customers of finished lubricant price mark ups, echoing others in citing increased costs for raw materials.
Valvoline customers received letters Jan. 13 outlining price increases averaging up to 8 percent effective Feb. 14, varying by sku and segment.
This price adjustment is a result of various market factors, including cost increases in base stocks and other raw materials, Valvolines letter stated.
BP Lubricants USA in a Jan. 20 letter informed customers that Castrol would increase prices up to 8 percent effective March 7 on all passenger car, motorcycle, commercial and ancillary products, including synthetics, in all package types.
In its notice, BP pointed to the increase in base oil and other raw material costs in the marketplace. Due to the current volatility in the market, additional increases should be anticipated, its letter stated.