Nu-Tier Brands / Gulf Lubricants, Old World Industries, and Safety-Kleen announce increases
Nu-Tier Brands / Gulf Lubricants announced a general price increase of 8% to 12% effective October 12, 2020 on all finished lubricants and greases. The company attributes the increase to rising costs associated with raw materials and manufacturing.
Old World Industries announced it will raise the price on all finished lubricants by 10% to 12%, effective October 12, 2020.This increase is a result of the continued increase in the cost of raw materials used in the manufacturing and distribution of these products.
Safety-Kleen will be increasing prices on all lubricants and related products by 9-14%, effective October 12, 2020, with adjustments varying by product segment and SKU. The increase is reported to be due to significant increases in the costs of the raw materials used in the manufacture of its lubricants, as well as on transport, weather, and pandemic-related expenses.
Summary of Lubricant Price Increases Announced as of September 17, 2020