ExMo Ups its Price |
ExxonMobil announced late last week it will
increase the
price of its branded and unbranded lubricants
up to 18%, effective September 1, 2008. This
increase applies to conventional and
synthetic lubricants.
Once again, rather than just saying the price
increase is necessary due to rapidly
increasing costs, marketers appreciate that
ExMo takes it
a step further by providing supportive
material they can show their
customers to help explain why the increases
are occurring.
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Chevron Moves on Price |
Chevron advised its distributors of a price
increase on lubricants and greases effective
September 8, 2008. According to marketers,
prices will move up by as much as 18%.
As with other price increases of late,
marketers are being told Chevron's increase
is in response to the unprecedented rise in
raw material costs.
Interestingly, however, marketers say Chevron
adds that base oil supply has been tight due
to reliability issues at several base oil
plants, a facility closure and turnarounds.
In addition, they are told some of the base
oil feed in the market is being diverted to
make fuel.
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CITGO also moves up |
CITGO announced on Friday it will implement a
price increase on all finished lubricants by
18% effective September 1, 2008. Marketers
are told this increase will apply to all
brands, package sizes and classes of trade.
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Up North too |
Word on the street is that our friends up
North (Petro-Canada) also announced a price
increase on finished lubricants and greases
of up to 18% effective August 25.
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SMF Energy Corporation Enters Into Multi-Year Lubrication Marketers Agreement With Chevron |
SMF ENERGY CORPORATION, (NASDAQ: FUEL), a
leading provider of specialized
transportation and distribution services for
petroleum products and chemicals, today
announced that its wholly owned subsidiary, H
& W Petroleum Company, Inc., has entered into
a multi-year Lubrication Marketer Agreement
with Chevron Products Company, a division of
Chevron U.S.A. Inc., to market Chevron
branded lubricants. The Company's similar
agreement with Chevron U.S.A. for its Texaco
brand of lubricants which was entered into in
2005 also remains in place.
Chevron Global Lubricants North America had
previously announced that it was combining
the Chevron and Texaco Commercial and
Industrial (C & I) lubricant brands under the
Chevron master brand name, with the exception
of its consumer product offerings marketed
under the Texaco Havoline product line, which
will continue to be marketed through its
Texaco Xpress Lube network and its other
marketing channels.
Gathright continued, "Chevron is recognized
as a market leader in the production and
marketing of commercial, industrial and
consumer lubricants. With this
consolidation, Chevron will have a single
branded product line that will allow us to
provide a single source solution for our
customers. We will be able to leverage the
strength of both brands in specific
applications and offer a more inclusive
product line, while providing assurance of
the historical Texaco product formulations to
those customers who have come to rely on them
in their applications. The addition of the
Chevron product line to our Texaco portfolio
will allow us to reach out to new bases of
business that in the past would have required
multiple vendors."
Richard E. Gathright, President and CEO
commented, "As recently reported in Fortune
Magazine, Chevron is the 6th largest company
in the U.S. by revenue, with over $200B in
sales. The consolidation of the Chevron and
Texaco brands and product lines is an
exciting development for the Company and
specifically our Mid-Continent Division
lubricant operations in Texas. The addition
of the Chevron brand fills in some product
gaps in the Texaco line, allowing us to
provide our customers with the broadest
possible commercial and industrial product
line. Our customers will also benefit from
Chevron's retention of all its prior Texaco
formulations by re-branding them as Chevron,
averting any potential product conversion
issues for our customers. In addition, we
are pleased to add the Chevron Delo HDMO
product line, which will complement our
former Texaco, now Chevron, Ursa Super Plus
heavy duty offering, since the Delo line of
heavy duty motor oils is the market leader in
brand recognition."
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