February 8, 2017
Volume 17 Issue 52
More Finished Lube Price Hikes
Valvoline and BP Castrol notified U.S. customers of finished lubricant price increases that take effect in March, citing rising costs for raw materials, packaging and transportation.
Valvoline said its prices will rise up to 5 percent, effective March 1. BP Lubricants USA Inc. announced hikes of the same amount, effective March 20 on Castrol and BP branded products.
They join other finished lubricant price hikes that marketers informed customers about in recent weeks, among them:
ExxonMobil, Shell, Chevron, Phillips 66, Citgo, Omni Specialty Packaging and Cam2 International previously announced finished lubricant price increases ranging from 3 percent to 8 percent.
The last widespread price movement was a round of increases in the U.S. that took place in the July-August period last year.