ExxonMobil, and CITGO to Increase Lubricant Prices
- ExxonMobil lubricant marketers got word that ExMo will be increasing finished lubricant prices by up to 15%, effective December 6, 2021. Marketers say they were advised that the adjustment is necessary due to the higher cost of raw materials and that the continuing escalation of these costs is driven by imbalances in the supply and demand of raw materials and production challenges some raw material suppliers are working through.
- CITGO advised its marketers of a general lubricant price increase of up to 15% on branded and unbranded finished lubricant products. The increase is effective December 9, 2021. The adjustment is said to be driven by the higher costs of raw materials and transportation.