With base oil prices increasing during the past three months and independent lube manufacturers raising finished lubricant prices, we knew it was just a matter of time before the majors jumped on the band wagon. Last week, Shell Oil Products US, ExxonMobil and CITGO announced finished lube price increases.

In a June 13, 2016 letter to its customers, SOPUS Products said the company will implement a price increase of up to 6% on finished lubricants, effective July 18, 2016. Shell went on to say that in certain instances, the effective date and/or the amount of the price change may fall outside of these parameters. Shell attributed this adjustment in part to increasing costs of raw materials used in the production and delivery of our products.

ExxonMobil advised its marketers last Tuesday that it will increase the price of its branded and private label lubricants and greases by up to 4%. The increase is effective July 15, 2016.

In a letter dated June 16, 2016 to its customers, CITGO said it will implement a general finished lubricant price increase of 4% - 6% on branded and private label products effective with shipments occurring on and after July 18, 2016. The company said there may be some instances where specific product price changes would fall outside of the general increase. CITGO attributed this increase primarily to escalations in base oil and packaging material costs that have occurred over the past several months.