In a letter dated March 28, 2018, Chevron announced a general price increase of all lubricating oils and greases up to 10% effective on May 7th, 2018. Chevron said that in certain instances, specific products may increase in amounts that are outside of this range. Chevron stated this increase is due to increasing costs of raw materials impacting the manufacturing of its products.
The previous week, in a letter dated March 22, 2018, ExxonMobil announced that its branded and unbranded PVL, CVL, IND, Marine & Aviation lubricants and greases will increase in price by up to 10 percent effective April 23, 2018.
Chevron's and ExxonMobil's previous most recent price increases were both announced on January 22, a general price increase of all lubricating oils and greases up to 5% effective on March 1, 2018 by Chevron and an increase on its branded and unbranded Passenger Vehicle Lubricants, Commercial Vehicle Lubricants, Industrial and Marine lubricants and greases by up to 6% effective February 26, 2018 by ExxonMobil.
In the past several weeks, many independent oil blenders, including Royal Manufacturing, Martin Lubricants, Warren Distribution, Maverick Performance Products Sunbelt Lubricants, Reliance Fluid Technologies, Allegheny Petroleum, Chemlube, Advanced Lubrication Specialties, Sunoco, Cam2 International, Smitty's Supply, Pinnacle Oil, Sinclair Lubricants and Omni Specialty Packaging announced finished lubricant price increases.