Chevron and Phillips 66 Announce Lubricant Price Increases as Cost Pressures Build

Price adjustments by Chevron and Phillips 66 reflect continued pressure on base oil, feedstock, and additive costs.

• Chevron Lubricants announced a general price increase of up to 15% across its U.S. lubricating oils and greases portfolio, citing rising raw material costs affecting production. The increase is scheduled to take effect April 1, 2026, with some products potentially falling outside the stated range.

• Phillips 66 Lubricants advised marketers that most bulk-packaged conventional and synthetic-blend products will increase by $0.65 per gallon, while bulk full synthetic products will increase by $0.85 per gallon. The company also noted that some products may fall outside these ranges, and that Red Line and DN products are excluded from the increase. Marketers were also advised that updated pricing details covering the broader lubricant portfolio will be provided. 

These adjustments highlight continued pressure on raw material costs and evolving market conditions. In this environment, pricing sensitivity becomes more pronounced—underscoring the importance of competitive pricing, flexibility and responsiveness across the supply chain.

The following table summarizes these and other recently announced lubricant price increases (posted pricing actions; actual transaction prices may vary).