Following finished lubricant price increases announced by Shell, ExxonMobil and CITGO, as reported in last week's OEM/Lube News, others including Chevron, Valvoline, BP/Castrol, Phillips 66 and Kleen Performance Products announced price increases, typically in the 6% range, within the past several days.

In a letter dated June 17, 2016 to its Lubrication Marketers, Chevron announced a general price increase of all lubricating oils and greases up to 6%, to be effective July 18th, 2016. In certain instances, Chevron said specific products may increase in amounts that are outside of this general parameter. Chevron attributed this price movement as being driven by increasing costs of raw materials which impact the manufacturing of its products.

Last Monday, Valvoline advised its channel partners that it will increase the prices on branded lubricants up to 6%. This increase is effective July 5, 2016.

In a letter dated June 21, 2016 to its customers and distributors, Kleen Performance Products announced an increase in blended oil product prices by 6% to 15%, effective July 8, 2016.

BP Lubricants USA announced last Thursday that it will increase the price on all passenger car and heavy duty motor oil (PCMO/HDMO), and industrial lubricants by up to 6%, effective August 1, 2016. This increase applies to both Castrol and BP branded products. BP attributed this increase to increases in the cost of base oils and additives.

Phillips 66 announced last Friday that it will increase the price of its finished lubricants by approximately 6%, effective August 1, 2016. Phillips 66 attributed the increase to the recent increases in raw material and packaging costs.

Last week, Shell Oil Products US, ExxonMobil and CITGO announced finished lubricant price increases. Shell said it will implement a price increase of up to 6% on finished lubricants, effective July 18, 2016. ExxonMobil said it will increase the price of its branded and private label lubricants and greases by up to 4%, effective July 15, 2016. And CITGO said it will increase the price by 4% - 6% on branded and private label products effective with shipments occurring on and after July 18, 2016.