While you can be sure some lubricant marketers are having a positive experience in 2023, most that JobbersWorld speaks with say demand is down and there is significant downward pressure on lubricant prices. And although the price pressure started as we entered 2023, lubricant demand began to soften at the end of 2Q22 and has remained in the doldrums since.

Interesting, many believe that the decline in demand is due to uncertainties about the condition and direction of the economy. In short, distributors are being cautious about building inventory and buyers are likewise cautiously filling tanks.