August 16, 2011 (Evening Edition)
JOBBERSWORLD...MARKET INTELLIGENCE FOR INTELLIGENT MARKETERS... The First and Only Independent Newsletter to Focus on Lubricant Distributors.
|Add CITGO and ConocoPhillips to the List of Majors Announcing a Price Increase |
|CITGO announced a price increase this afternoon for CITGO, Milemaster, Mystik, and Clarion lubricants of 4 to 6%. This increase is effective September 19, 2011.|
Interestingly, the 110% you can pull from CITGO prior to the increase starts on orders from August 9. Marketers say this is unusual because it means if you ordered a week ago (hedging your bet), based on the letters marketers received, those orders from a week ago are going against your 110% allocation.
ConocoPhillips also announced a price increase this afternoon. ConocoPhillip's increase is effective September 16th and moves prices up 5 to 8%.
This morning JobbersWorld reported:
ExxonMobilannounced today it will increase its branded and unbranded lubricant and grease prices by up to 5%. This increase is effective September 16, 2011.
Castrol announced it will increase the price of its passenger car motor oil, motorcycle oil and commercial lubricants by up to 5%. This increase goes into effect September 26, 2011.
|The Time is Getting Longer|
|JobbersWorld continues to hear words of concern from lubricant marketers and independent blenders asking about the time lag between when independent lubricant manufacturers and the majors move prices. As shown below, the time between the two continues to stretch.|
|Summary of Price Increases in Round Four...|
|The following is a summary of price increases reported in JobbersWorld for round four in 2011. |