Motiva surprised the market this week, announcing that it will reduce its API Group II and Group II+ base oils between 45 and 65 cents per gallon. Ergon dropped all its naphthenic prices by 55 cents per gallon last week for all grades. Cross Oil and San Joaquin Refining also reduced prices.
The Ergon decrease, which was effective Jan. 19, was the first move by Ergon so far this year. Ergon had last issued a round of decreases for its pale oils on Dec. 18.