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Base oil Increases

There have been five base oil price increases since December 2020, and another set to take effect end of this month.
Although the amount of each increase varies by the producer and type and grade of base oil, when taken together, the adjustments moved the price of the core cuts of base oils used to blend motor oils up by close to $1.70 a gallon. The base oil price moves set to take effect next week will layer on roughly $0.30 a gallon more.
Where increases in base oil prices are typically driven by the price of crude, as discussed in the article that follows, supply and demand imbalances are primarily responsible for the increases seen to date this year.
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