ConocoPhillips issues fresh US base oil hikes

09 April 2008 19:54  [Source: ICIS news]

HOUSTON (ICIS news)--ConocoPhillips said on Wednesday it raised Group II and III paraffinic base oil posted prices in the US, effective on 4 April, its second price hike in just over a month.

The hikes were based on high feedstock crude prices and vacuum gas oil (VGO) costs, buyers said.

The 70 viscosity will increase by 12 cents/gal to $3.51/gal. The 80 viscosity will increase by 10 cents/gal to $3.49/gal.

The 110 viscosity will also increase by 10 cents/gal to $3.24/gal. The 225 viscosity will increase by 15 cents/gal to $3.77/gal.

The 600 viscosity will increase by 20 cents/gal to $4.24/gal.

The last ConocoPhillips Group II increase was on 7 March.

The latest increase follows previously announced increases by other Group II producers, including Flint Hills Resources on 7 April, Chevron on 25 March and Calumet on 26 March.

Group II producers Motiva and Valero have not announced any Group II hikes since the first week of March.

ConocoPhillips also said it would increase the posted price of Group III paraffinic base oils by 15 cents/gal effective on 4 April. The last Group III increase by ConocoPhillips was on 7 March.

The other Group III seller, SK E& P lifted posted prices on 26 March.

By: Heather McGuire Doyle
+1 713 525 2653

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