Last week, Shell (SOPUS Products), Martin Lubricants, Advanced Lubrication Specialties, Sinclair, Chemlube and Pinnacle Oil notified their customers of a price increase on finished lubricants.
SOPUS Products on January 15, 2018 notified its customers that it will implement a price increase of up to 5% on finished lubricants, effective February 19, 2018. Shell attributed this adjustment in part to increasing costs of raw materials used in the production and delivery of its products.
Martin Lubricants on January 18 announced a general price increase on SynGard, Extreme and Gard branded products. This increase will also apply to private label lubricants and greases. Prices will increase on most products in the range of 4 to 7% per gallon based on product category effective February 19. Martin attributed the increase to ongoing increases in raw materials including base oils, additives and resin for bottles and pails.
Advanced Lubrication Specialties on January 16 announced it will increase the price of its finished lubricants by 6 to 10%, effective February 5, 2018. Advanced Lubrication Specialties attributed the price adjustment to increasing costs of raw material and transportation.
Sinclair on January 17 announced it will implement an increase of up to 6% on its finished lubricants, effective March 1, 2018. Sinclair attributed this price adjustment to the increased cost of raw materials used in production.
Chemlube advised its customers on January 18 it will increase prices on its Savannah products by 20 to 25 cents per gallon, effective February 5, 2017. Chemlube attributed this price adjustment to the increase in cost of raw materials used in manufacturing lubricants.
Pinnacle Oil on January 19 announced it will increase the price of its bulk and packaged lubricants by 6 to 10% effective after February 5, 2018. Pinnacle attributed the increase to the rising costs of raw materials.
Last week, we reported that Cam2 announced a price increase ranging between 6% to 10% on bulk and packaged lubricants and greases effective February 5.
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.
Expect more announcements this coming week.