Shell, Valvoline and CITGO announced last week they will increase the prices of their lubricants and greases, Shell and Valvoline by up to 4%, and CITGO by 4 to 6%. They join ExxonMobil, Chevron, Phillips 66, Castrol and several independents who announced prices increases during the past few weeks.
Shell Oil Products US on April 10 announced it will implement a finished lubricant price increase of up to 4%, effective May 15, 2017. SOPUS says the increase is, in part, driven by increases in the cost of raw materials used in production and delivery of its products.
CITGO announced it will implement a general price increase of up to 4% to 6% on its branded and private label lubricants effective May 15, 2017. CITGO says the increase is driven primarily by escalations in base oil and additive costs occurring over the past several months.
Valvoline announced an increase of up to 4% on its branded lubricant products effective June 1, 2017. Valvoline attributes this adjustment to increases in the cost of raw materials and higher manufacturing and distribution costs.
Shell, Valvoline and CITGO join ExxonMobil, Chevron, Phillips 66, Advanced Lubrication Specialties Nu-Tier Brands, Chemlube, Royal Manufacturing, Old World Industries, Martin Lubricants, Pinnacle Oil, Amalie, Calumet, Castrol, Cam2, Warren Distribution and Smitty's Supply who announced prices increases during the past few weeks.