Two more suppliers joined the latest round of base oil price hikes in the United States, leaving just one that has not.
Motiva said yesterday that it was raising posted prices across the board by 10 cents per gallon. ConocoPhillips added a dime to prices for its Group II oils and 15 cents to its Group IIIs.
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Those moves left Flint Hills Resources as the only major paraffinic supplier not to have joined the years seventh round of markups, which started three weeks ago. Rounds of price movements in the industry seldom stretch so long, but several companies have been preoccupied by plant shutdowns forced by Hurricane Rita.
Four plants in Texas and Louisiana have been closed for three weeks, including Excel Paralubes, a 50-50 joint venture between ConocoPhillips and Flint Hills Resources. The other three are Motivas plant at Port Arthur, Texas, ExxonMobils Beaumont, Texas, plant and Citgos Lake Charles, La., plant.
Crude oil prices were little changed over the past week. The price on the New York Mercantile Exchange closed yesterday at $63.77 per barrel, Bloomberg reported, 16 cents lower than Oct. 4.
Historic U.S. posted base oil prices and WTI and Brent crude spot prices are available for purchase in Excel format.