|CITGO Announced Yesterday
Marketers received word yesterday from CITGO
that it will increases the price of its
finished lubricants by 8 to 10%. This
increase is effective July 1, 2010
|ConocoPhillips also went up
ConocoPhilips got their letter on May 17.
Those letters advised of a price increase of
6 to 9% depending on product specific
factors. This increase goes into effect on
July 1, 2010.
Marketers say ConocoPhillips atrrributed the
increase to the recent increases in base oil,
additives and packaging costs.
|All but one of the majors has announced increases
All but one of the major lubricant
manufacturers have announced lubricant price
increases in the US market. BP/Castrol is the
only one that has not. Marketers say they
wonder if one will come from BP considering
the challenges the company is currently
dealing with to get the spill under control
in the Gulf, address clean up issues, and to
address political concerns, and public image
issues arising from the spill.
It should be noted that the majors have not
been the only ones to announce price increases
over the past month. Several of the leading
independent lubricant manufacturers have also
announced. These include Warren Oil, Advanced
Lubrication Services, CAM2, and Smitty's.
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