Several oil majors and smaller and independent suppliers informed U.S. customers of finished lubricant price hikes, generally 4 percent to 6 percent, most going into effect in early- to mid-June.
Most companies indicated in their notices that the price increases could fall outside the specified amount, depending on the product. Some notices cited increasing raw material costs impacts on manufacturing and distribution costs as a key factor.
Ashland Consumer Markets notified customers that prices for Valvoline brand finished lubricants will increase up to 4 percent effective June 2.
Phillips 66 told customers it would increase prices on finished lubricants by 4 percent June 2.
ExxonMobil notified customers it would raise prices on finished lubricants by up to 4 percent effective June 5.
BP Lubricants USA informed U.S. customers that prices for Castrol finished lubricants will generally increase by up to 4 percent effective June 16.
Several independent lubricant suppliers have notified customers of upcoming price increases.
Cam2 informed customers it would raise prices 4 to 6 percent on all lubricants and greases effective June 2 for bulk products and June 3 for packaged products. Antifreeze and brake fluid prices will remain unchanged.
Old World, makers of Peak brand lubricants, told customers it would raise prices on finished lubricants by up to 5 percent effective June 2.
Martin Lubricants informed customers it would implement a general price increase on all its private label, SynGard, Xtreme and Gard lubricants, chemicals and greases, with the standard increase in the 4 to 6 percent range. It would go into effect on orders placed after May 19 for bulk lubricants and after May 30 for packaged. Martin also informed customers of a 4-6 percent standard price increase on all greases, effective with orders placed after May 30.
Industry sources suggested blenders may be having difficulty absorbing recent U.S. base oil price increases, especially in light of extremely tight margins. They also cited the upward trend in additive prices as another possible contributing factor.