Flint Hills issues US base oil hike on feeds

16 June 2008 19:04  [Source: ICIS news]

HOUSTON (ICIS news)--Flint Hills increased prices for its Group II paraffinic base oil posted prices in the US for the sixth time in 2008, effective on Monday.

The hikes were based on high feedstock crude prices and vacuum gas oil (VGO) costs, a buyer said who received the notice in a letter.

The 70/75 viscosity will increase by 25 cents/gal to $4.39/gal (€0.75/litre). The 100 viscosity will also increase by 20 cents/gal to $4.25/gal.

The 230 and 600 viscosity will increase by 30 cents/gal to $4.57 and $5.03/gal respectively.

The last increase was on 6 June, according to data from global chemical market intelligence service ICIS pricing.

Price increases are being pushed at record speed in this market, a distributor said.

“Rapidly rising feedstock costs, even higher costs to produce, more to transport—the distribution chain is highly stressed,” the distributor said.

The distributor added: “Losing money is no small problem in the world of refining.”

($1=€0.65)

 

To comment on issues facing the global chemical industry, visit ICIS connect

By: Heather McGuire Doyle
+1 713 525 2653

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly