Lubricant prices have risen again since May 1

Affected by the Russian oil embargo and the increase in international commodity prices, international lubricant giants have chosen to increase prices in May:

Shell: The third consecutive wave of price increases on the 15th

Shell said that due to the recent rise in crude oil and additive prices, the cost of production remains high, so it decided to raise the price of
lubricant products from May 15.

This is the third consecutive month that Shell has issued a price increase notice, and the cost pressure of business operations can be seen
.

Chevron: Cost pressure is difficult to digest, and prices increased on May 1

Chevron has also recently proposed a plan
to increase the price of lubricant products in the Chinese market.
The specific reason is still the rise in international crude oil prices
.

The date of the price increase is set for May 1, and the details of the specific price increase will be announced
separately.

Kunlun lubricants: the cost pressure is too great, rise!

At present, the domestic lubricant manufacturers that have received the May price increase notice are Kunlun lubricants
.
Kunlun Lubricants mentioned that the company will adjust the sales price of lubricant products online on May 1, with an increase of about
15%-20%.

Sinopec: 4 price increases, apologies

In addition, although Sinopec lubricants did not clearly propose a price increase plan in May, they still smelled the imminent price increase between the lines of its "Letter to Customers
".

Sinopec Lubricants first apologized for the inconvenience caused to partners by the previous four price increases, analyzed the current crisis situation in the production cost of lubricants, and finally said that the company will share good information with customers in advance and do a good job in communication and transmission to
the terminal.

International crude oil continues to be high

From April 2020, the international WTI New York crude oil price rose all the way, peaking at $130.
50 / barrel, and as of the close of April 28, light crude oil futures for June delivery on the New York Mercantile Exchange rose $3.
34 to close at $105.
36 per barrel, an increase of 3.
27%; London Brent crude for June delivery rose $2.
27, or 2.
16 percent
, to settle at $107.
59 a barrel.

Lubricant prices swept through the first quarter

In the past quarter, many lubricant companies have chosen to increase prices, including many companies that have significantly increased product prices, and the reason is basically the increase in raw material prices
.
Another round of price adjustment in May pushed the lubricant market to a new high, and the long-term high raw material prices will also force the adjustment and upgrading
of the oil product structure.