Blenders got word today that Motiva will increase base oil prices by 40 to 45cpg on March 3rd.
Sinclair Lubricants Announces Price Increase
A Year Like No Other?
This year is shaping up to be one like we have not seen in decades. There have been three increases in the price of base oil since December; moving base oil prices up by close to $1.00 a gallon. In addition, the price of new steel drums moved up by close to $10 a drum in the first quarter, and there have been 2 to 3 increases in resin postings.