Three more U.S. paraffinic base oil suppliers have joined this years fifth round of posted price increases. Valero, Chevron and ConocoPhillips reported increases of 15 to 17 cents per gallon on Group I and Group II base stocks.
Group I producer Valero increased its postings 15 cents per gallon across the board on Aug. 9. Group II producer Chevron did likewise, raising posted prices 15 cents per gallon on all postings effective Aug. 10.
ConocoPhillips raised posted prices 17 cents per gallon on its 70 Neutral stock, and went up 15 cents per gallon on its other Group II base oils, effective Aug. 11. ConocoPhillips did not raise Group III prices.
Group II producers Motiva and Flint Hills Resources reported no change yesterday. Likewise, Group III supplier SK reported no change.
ExxonMobil customers told Lube Report that they had received no word of any price movement on ExMos Group II-plus products. Industry observers speculate that most of North Americas Group II-plus and Group III suppliers are waiting for action by ExxonMobil. When ExxonMobil triggered the current round of price hikes two weeks ago, it raised its Group I prices only. At the time, observers noted that ExMo had recently imposed allocations on one of its Group II-plus products because of operational issues at the Baytown, Texas, refinery.
The cost of crude oil on the New York Mercantile Exchange closed yesterday at $72.94 per barrel, according to Bloomberg. That was$3.41 lower than the price a week earlier.
Historic U.S. posted base oil prices and WTI and Brent crude spot prices are available for purchase in Excel format.