Price Increases

More price increase news, this one from an unexpected source. Lubrizol, one of the chief manufacturers of the chemical additives packages used in motor oil formulation, announced a price increase of 12 to 20 percent last week. The company blames the rising cost of raw materials and higher energy-related production costs. Read about the increase here.

Tom Glenn at Jobbers World notes that since additives account for as much as 40 to 50 percent of the cost of formulating motor oil, end users can expect higher costs to come, even as oil companies are pushing through their second set of price increases this year. That can only mean still higher product costs for fast lube operators, the ugly reality of $130/barrel crude oil.

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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