Chevron announced a posted price increase this week, which will become effective on October 4. This is the second initiative to emerge in the paraffinic segment over the last few days, as Flint Hills Resources lifted prices about a week ago. On the naphthenic side, Ergon announced a price increase, and Cross Oil communicated a price hike as well.
Chevron will be increasing postings of its API Group II 100R, 220R and 600R base oils by 12 cents per gallon to reflect current supply/demand balances and overall market conditions, a company source said.
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