With the price of crude the lowest it has been in 11 years, and the price of gasoline at levels not seen since the 1990s, it should come as no surprise that several majors have recently announced price decreases on finished lubricants.

The first to announce price decreases were ExxonMobil and Castrol.

ExxonMobil advised its marketers on February 9th that effective February 26, 2016, they would decrease the price of its branded and unbranded lubricants and greases by up to 3%.

On the same day, Castrol announced a 2% price decrease on its passenger car and commercial lubricants. This decrease is effective March 14, 2016.

Valvoline followed when it announced a price decrease on Tuesday of this week. Valvoline advised its marketers that effective March 1, 2016, it will decrease prices on lubricant products by up to 2%.