More U.S. Finished Lube Prices Rise
Chevron, Phillips 66, Total and Petro-Canada America Lubricantsnotified U.S. customers of upcoming finished lubricant price increases that go into effect from late February through early March. Like other marketers that announced increases in recent weeks, these companies cited factors such as increasing costs for raw materials such as base oils and additives.
Announcements of increases came from:
- Chevron, up to 5 percent on all lubricating oils and greases, effective March 1;
- Phillips 66, up to 5 percent effective March 5;
- Total, raising prices by 4 to 8 percent for most products effective Feb. 26;
- Petro-Canada America Lubricants, imposing markups of up to 6 percent across the board, excluding process oils and Purity FG white oils, effective Feb. 23. Process and white oils will rise 10 cents per gallon on Feb. 23.
Previously, Shell, ExxonMobil, Citgo, Pinnacle Resources, Chemlube, Safety-Kleen Systems/Kleen Performance Products, Martin Lubricants and Omni Specialty Packaging announced price increases in the range of 5 to 8 percent – or in some cases of 20 to 25 cents per gallon – with most changes taking effect from around mid-February through the end of the month.
Ned Zimmerman, chemicals group leader for Cleveland-based market research firm Freedonia Group, said the price hikes are not really a surprise. “The impetus really is the usual suspects of raw materials and shipping cost.”
