Valvoline notified its marketers late in the
day on Friday (February 5, 2010) that it too
is pushing through
a price increase on finished lubricants.
Valvoline
will increase prices on finished lubricants
by an average of 5 to 8%. This increase will
reportedly vary depending on product type and
is effective March 15, 2010.
As with all other announced price
increase in finished lubricants, Valvoline
attributes this increase to the higher cost
of base stocks and other raw materials.
Valvoline is the last in the line of
majors to
announce a price increase since the start of
year. A summary of the finished lubricant
price increases in 2010 previously reported
on by JobbersWorld follows below:
Shell - As reported in JobbersWorld
on January 15,
2010, Shell was the first to announce a price
increase for finished lubricants in 2010. The
company said its prices will increase by up
to 8% effective February 22, 2010. According
to marketers, for most of Shell's lubricants,
this increase equates to $0.36 to $0.38 a
gallon on bulk, and $0.44 to $.48 a gallon on
packaged lubricant, depending on types.
As expected, the price increase announcements
didn't stop here. Others followed and most
attributed the increases to the higher cost
of raw materials (both additives and base oils).
Chevron - On January 19, 2010, Chevron
advised it lubricant marketers it will
increase its prices on all lubricating oils,
gear lubes and greases by an average of 6 to
10%. The increase is effective March 1, 2010
and said to be driven by the recent rise in
the cost of raw materials.
BP/Castrol - Castrol advised its
marketers on
January 21, 2010 it will increase the price
on all passenger car, commercial, and
industrial lubricants by up to 8%, effective
March 8, 2010. According to marketers, this
increase represents $0.32 to $0.48 a gallon,
depending on lubricant type and package. They
say engine oils will increase by $0.38 to
$0.48 a gallon for bulk and packed
lubricants, respectively.
American Refining Group (ARG) - ARG
advised
its marketers on January 26th that it will
increase prics for lubricants in the range of
5 to 9%. Marketers were told synthetic and
specialty lubricant prices may increase by
more. This increase is effective February
22, 2010 and also applies to the Gulf brand
sold by ARG.
ConocoPhillips advised its marketers on
January 27th it will increase the price for
its finished lubricants by 6 to 9% effective
March 1, 2010. The price increase is said to
be dependent on product specific factors.
According to marketers, ConocoPhillips says
this increase is driven by recent increases
in base oil, additives and packaging costs.
Petro-Canada. Effective February 24,
2010, Petro-Canada advised its marketers it
will increase its lubricant prices for all
package sizes by 8%.
Marketers are were told this increase does
not include the process oil and white oil
increases that go into effect on Feb 10,
2010. As previously reported in JobbersWorld,
effective February 10, 2010, Petro-Canada
will increase the price of its process oils
and white oils by $0.20 to $0.30 a gallon
depending on type and grade.
ExxonMobil advised it marketers on
February
2, 1010 it will increase its prices on finished
lubricants and greases by up to 8%. The
increase reportedly applies to branded and
unbranded lubricants and will take effect on
March 15, 2010. Marketers say this increase
will move ExMo's prices up by close to $0.30
a gallon.
Citgo sent notices out to its
marketers on January 29, 2010 that it will
increase prices by 8 to 10%. This increase
goes into effect March .
