The Clinton, Mo.-based company manufactures primarily synthetic and semi-synthetic motor oils. Champion has lowered wholesale prices domestically and internationally – exported out of the U.S. – on select lubricants and motor oils that are linked in manufacturing to mineral base stocks, Dedolph said.

He said the company announced its price cut publicly to the market because it is in a very aggressive mode seeking new distributors and promoting its branded products as well as its private label business. Press releases are a part of that strategy, he said.

Dedolph said the price decrease is partly due to falling crude oil prices, describing the current crude oil price situation as really very simple.

In many countries, demand is down because they have seen high prices in their market for too long, he noted in a press release. Supply is up because of U.S. shale oil, new exploration and harvesting technologies, and the return of Libyas production, plus OPEC is determined at this time not to cut oil production. Decreased demand and increased supply equals a lower price of crude.

Several major oil companies previously notified U.S. customers of finished lubricant price cuts effective from mid-January through mid-February.