Energy costs prompt US aromatics hike for March

04 March 2008 23:53  [Source: ICIS news]

HOUSTON (ICIS news)--High crude oil and gasoline prices prompted a major US aromatic solvents producer to propose a price hike of 3 cents/lb ($66/tonne) on truck and railcar xylene and toluene, effective 13 March, a reseller said on Tuesday.

The price hike proposal came amid other aromatic solvent increases for March, making it likely that customers would accept the increases, the reseller said.

Truck and railcar toluene prices are 49.0-54.5 cents/lb, and xylene prices are 50.0-55.0 cents/lb, according to global chemical market intelligence service ICIS pricing.

Market participants predicted demand from fuel blenders would increase later in March, when they begin to formulate summer blends ahead of the peak driving season.

US aromatic solvent producers include Citgo, ExxonMobil, Flint Hills Resources, Sunoco and Total.

For more on aromatic solvents visit ICIS chemical intelligence

By: Gene Lockard
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