More Finished Lube Price Hikes

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Valvoline, Phillips 66, Kleen Performance Products and Omni Industries notified U.S. customers of upcoming price increases on finished lubricants. Factors cited included rising costs for base oils and other raw material related to manufacturing, distribution and packaging. Valvoline will raise prices up to 6 percent effective July 5 on branded lubricants. Phillips 66 will hike prices about 6 percent effective Aug. 1. Kleen Performance Products will mark up blended oils by 6 percent to 15 percent effective July 8. Omni Industries will bump up prices on bulk and packaged finished lubricants by 3 percent to 5 percent effective July 1, following a previous increase that went into effect in May.

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