More Price Increases
In addition to the lubricant prices increases previously reported in JobbersWorld, (Sinclair and SOPUS), Valvoline, Phillips 66, and ExxonMobil have also advised marketers of price increases. The Valvoline price increase took effect on February 1, Phillips 66 moves prices on March 7, 2022, and ExxonMobil’s adjustment is effective March 16, 2022.
The adjustment are said to be in response to the ongoing increases in the cost for raw materials (base oils, additives), and significant increases in the cost of packaging and freight.
