Got this in an email from a distributor I use:
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There have been some big changes in the lubricant market recently, and our account management team wanted you to know as soon as possible. In 2019, the cost of base oils and additives have increased. As a result, finished lubricant prices will rise in the coming weeks. Here's why:
Infineum, one of the two major suppliers of Heavy Duty Motor Oil (HDMO) additives, has recently reported a key supplier cannot meet its production requirements, limiting customer fulfillment by half. Infineum is one of the leading companies supplying additives to major oil companies necessary for finished lubricants. On the heels of that news two other additive companies have announced price increases effective by the end of May. Finally, the base oil market has had two price increases in 2019 so far. Combined, the increases in base oil cost and additive supply issues are driving multiple finished lubricant price increases this year.
Due to these factors, nearly every major and sub-major finished lubricant brand has announced either two small or one large price increase to take effect throughout May. As this is time sensitive information, we felt it merits an official communication.
===================================
There have been some big changes in the lubricant market recently, and our account management team wanted you to know as soon as possible. In 2019, the cost of base oils and additives have increased. As a result, finished lubricant prices will rise in the coming weeks. Here's why:
Infineum, one of the two major suppliers of Heavy Duty Motor Oil (HDMO) additives, has recently reported a key supplier cannot meet its production requirements, limiting customer fulfillment by half. Infineum is one of the leading companies supplying additives to major oil companies necessary for finished lubricants. On the heels of that news two other additive companies have announced price increases effective by the end of May. Finally, the base oil market has had two price increases in 2019 so far. Combined, the increases in base oil cost and additive supply issues are driving multiple finished lubricant price increases this year.
Due to these factors, nearly every major and sub-major finished lubricant brand has announced either two small or one large price increase to take effect throughout May. As this is time sensitive information, we felt it merits an official communication.