More Price Hikes

Another round of price hikes hits the industry. According to Tom Glenn at Jobbers World, pretty much every major oil company recently announced lubricant price increases ranging from 5 to 10 percent. Chevron kicked off the party, followed by ExxonMobil, ConocoPhillips, Shell and CITGO. Glenn notes that the increases roughly amount to a $0.40-per-gallon increase for lubricants.

Of course, it has to be noted that the price of base oil has increased some $0.30 per gallon in just the last month as crude oil prices have zoomed past $100/barrel due mainly to the weak dollar. Just don’t get me started on whether or not I think the dollar is being kept artificially low by the Federal Reserve.

About National Oil & Lube News

National Oil & Lube News is the fast oil change industry's oldest and largest trade publication. Started in 1986 by Steve Hurt (a former fast lube owner) and David Arrington, NOLN has grown and evolved right alongside the fast lube industry. Here at NOLN, our aim is to help fast lube operators with every facet of their business, from operations to technical issues. Our monthly magazine and this regularly updated website contain everything from technical tips, recall announcements and service guides to articles on handling customer complaints, building your brand and making your business the best it can be. With tips and advice from experts both inside and outside the industry, you're sure to learn something that can help your fast lube business grow and prosper.
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