In a letter dated January 12, 2018, Cam2 International announced a price increase ranging between 6% to 10% on bulk and packaged lubricants and greases effective February 5. The company simply attributed the need for this increase as due to the continued cost increase of raw components.
The previous round of price adjustments were price increase announcements by the majority of major oil companies and independents during the October to November 2017 time frame during which finished lubricant prices were adjusted upwards by anywhere from 5% to 10%, most of them taking effect in November to December 2017.
With the recent run-up in crude oil prices and lube base oil prices, it comes as no surprise that finished lubricant price increases would soon begin. Expect more announcements this coming week.