HollyFrontier and Calumet both stepped out during the past week to announce they would lift their API Group I base stock postings by 15 cents per gallon. With these notices, the Group I arena wraps up a full round of adjustments. The jury is still out on whether Group II and III producers would jump on board and push up posted prices.
HollyFrontier said that it increased postings for its lineup of Group I solvent neutrals by 15 cents/gal effective Monday, Sept. 17. Rising operating costs alongside a fairly healthy demand and balanced inventory positions were the drivers behind stiffer posted prices, sources suggested.