UPDATE: Jan 19, 2021

Summary of lubricant and lubricant additive price increases report by JobbersWorld as of January 19, 2021. 

The need for the adjustments is attributed to base oil price hikes, as well as increases in the cost of nearly all other raw materials used in the blending and packaging of lubricants. These include lubricant additives, plastic resin, and corrugated; as well as higher transportation and manufacturing costs.