29 March 2011 22:26 [Source: ICIS news]
SAN ANTONIO, Texas (ICIS)--Chevron confirmed it will seek to raise several US paraffinic base oils prices in April, sources said on the sidelines of the International Petrochemical Conference (IPC) on Tuesday.
Effective 1 April, Chevron will raise its posted prices by 35 cents/gal on Group II 100 light viscosity paraffinic base stocks and mid-viscosity 220 material, both on FOB (free on board) basis.
On the same date, Chevron will raise posted prices by 40 cents/gal on its heavier 600 viscosity base oils.
Tight base oil supply fostered by rising demand coupled with higher feedstock costs in petroleum crude oil were cited as the drivers for the increases.
Other base oils producers and suppliers have not made price announcements.
Hosted by the National Petrochemical & Refiners Association (NPRA), the IPC continues through Tuesday.
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