ExxonMobil to Increase Lubricant Prices
ExxonMobil advised marketers it will be implementing a lubricant price increase effective September 19, 2022. Unlike past price increases where the magnitude of the adjustment is stated, (i.e., up to x%), no percentage was provided. Instead, marketers were advised that the increase will vary across products.
ExxonMobil attributes the need for the price adjustment to imbalances in the supply and demand of raw materials, and inflationary pressure on costs.