Shell was the first to bump its lubricant prices up in 2014. It did so on March 31 when it announced a price increase of 4% taking effect on May 5, 2014. Other majors and independent blenders were quick to follow with similar price increase announcements, most of which take effect in June.

There was, however, one apparent holdout that everyone seemed to be asking about, and that was Chevron. Well ask no more.

Chevron has now announced that it too will be increasing the price of its lubricants. This will be a general price increase of 4% to be effective July 15, 2014.

A summary of announced price increases follows:

Mansfield and Lube-Tech Acquire Yocum Oil

Mansfield Energy Corporation and Lubrication Technologies, Incorporated announced they have acquired the commercial fuels, lubricants, and solutions businesses of Yocum Oil.

The acquisition was a coordinated effort between Mansfield and Lube-Tech with the commercial fuels business purchased by Mansfield and the lubricants and solutions business purchased by Lube-Tech. Lube-Tech will also provide fuel transportation and equipment service to Yocum Oil's fuel customers. Yocum's industry-leading fuel sales and marketing team, led by Tony Yocum, will join Mansfield, where Tony will serve as Director of Business Development. Tim Yocum will join Lube-Tech's board of directors, and Jon Yocum joins Lube-Tech as a Senior IT Project Manager.

Tim Yocum, CEO of Yocum Oil, commented, "We are excited to integrate our strengths with Mansfield's and Lube-Tech's excellence in automation, processes, and market leadership. This combination will fully integrate our companies with a more extensive and successful network and allow us to better serve our customers through an enhanced product offering and higher levels of service." Yocum Oil's fuel business fits seamlessly into Mansfield's current fuel supply chain, and the integration into Mansfield's comprehensive fuel service, supply, and distribution network will enable them to broaden their service offering on a regional and national basis. "Our Great Lakes operation has been growing rapidly for the past five years and this was a great opportunity to accelerate that growth," said Joe Campbell, Mansfield SVP of Operations.

"From their Arsenal line of fuel additives to their innovative risk management and hedging programs, Yocum has long been a leader in the Minnesota fuels market. As importantly, the Yocum family and employees have long demonstrated the values, culture, and commitment to customer service that we know are required for sustainable success, and that provide a foundation for further business and professional growth," stated Michael Mansfield, CEO of Mansfield Energy Corp.

Combining Yocum Oil's lubricants and solutions businesses with Lube-Tech will result in an expanded product portfolio and a larger geographic footprint. Already a distributor of Mobil, Chevron, and CAT lubricants, Lube-Tech will continue to provide the same high-quality products and services that customers have come to expect. In addition, Lube-Tech will support Yocum Oil customers with custom-blended lubricants, chemicals, and recycling and equipment services.

Eric Jackson, Lube-Tech COO said "We are excited to add further scale to our market-leading lubricants business and believe operating our fuel transportation assets in conjunction with Mansfield's national supply and marketing system will enable us to deliver increased customer value"

Chris Bame, CEO of Lube-Tech, commented, "We have tremendous respect for the Yocum family and how it has built its business by fostering an employee- and customer-centric culture. Like Yocum Oil, Lube-Tech is a family-owned company, and we share that same philosophy. At Lube-Tech, our mission is to continually help our customers accelerate performance while also enhancing our community and the lives of our employees"

Upcoming Events

CLICK FOR DETAILS

WHAT'S ON YOUR MIND?

Your needs, your concerns, your outlook. No bias, no fluff and no punches pulled. Whether it's buy backs or brand battles, allocation of co-op ads, operating costs or turf wars, JobbersWorld keeps you on top of the issues that matter to YOU: The Lubricant Marketers!

Let us know what's on your mind. We welcome your comments, concerns, and/or questions.

Contact JobbersWorld either by email at: tom_glenn@jobbersworld.com
or by phone at 732-494-0405 and let us know, WHAT'S ON YOUR MIND? All contacts are treated confidentially unless those contacting us choose otherwise.

Written and published by experts, Jobbers World is brought to you by

Petroleum Trends International, Inc.

Copyright �

2014 Petroleum Trends International, Inc.