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Monday, July 2, 2018VOLUME 14 ISSUE 27
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Phillips 66, Castrol, Calumet and KL Summit Announce Lube Prices Increases

Phillips 66 Lubricants and Castrol North America advised they will raise finished lubricant prices, in both cases, by up to 9%, while independents Calumet and KL Summit also announced finished lubricant price increases; Calumet by up to 10%, while KL Summit's increases varied by product.

In a letter dated June 22, 2018 to its lubricant marketers, Phillips 66 Lubricants advised it will raise finished Lubricant prices up to 9% with an effective date of July 23, 2018. The company said the increase in part was due to increasing costs in the production and delivery of its products

Castrol North America announced a price increase last Tuesday of up to 9% for Castrol and BP branded lubricants effective August 6, 2018. The increase applies to certain conventional, synthetic blend and full synthetic passenger car and heavy-duty lubricants. The increase does not apply to Castrol or BP industrial products. Castrol said the adjustment was due to the continuous rising cost of base oils, additives, packaging and transportation.

Calumet announced last Monday that prices of Calumet branded finished lubricants will increase by up to 10% effective July 25, 2018. Calumet attributed the adjustment to increasing costs of raw materials used in the production and delivery of its products.

In a letter dated June 18, 2018 to its distributors, KL Summit announced an increase in the price of many of its products, effective August 1, 2018. The letter went on to say "Recent shortages in key components used in the manufacture of the base-stocks in our products has resulted in significant increases in the material cost of our ester based products, primarily the DSL series. The increase also affected most other products, although to a lesser degree. This significant increase in our costs, along with increases in petroleum base oil prices, has necessitated an increase in the price of many of our products." Summit's DSL series increased the most by 14% while its Supra and Supra 32 increased by 10%. The remaining products increased in the range of 2%-7% or received no increase at all. The latter included its PGS, PGI, NGL, HySyn FR, RAB, RPA, RPB, RPE, RPS and Envirotech series, in addition to its NGR 460 and Barrier Fluids.

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