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CITGO Announced Yesterday |
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Marketers received word yesterday from CITGO that it
will increases the price of its finished lubricants
by 8 to 10%. This increase is effective July 1, 2010
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ConocoPhillips also went up |
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ConocoPhilips got their letter on May 17. Those
letters advised of a price increase of 6 to 9%
depending on product specific factors. This increase
goes into effect on July 1, 2010.
Marketers say ConocoPhillips attributed the
increase to the recent increases in base oil,
additives and packaging costs.
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All but one of the majors has announced increases |
All but one of the major lubricant manufacturers
have announced lubricant price increases in the US
market. BP/Castrol is the only one that has not.
Marketers say they wonder if one will come from BP
considering the challenges the company is currently
dealing with to get the spill under control in the
Gulf, address clean up issues, and to address
political concerns, and public image issues arising
from the spill.
It should be noted that the majors have not been
the only ones to announce price increases over the
past month. Several of the leading independent
lubricant manufacturers have also announced. These
include Warren Oil, Advanced Lubrication Services,
CAM2, and Smitty's.
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