03 April 2012 19:30 [Source: ICIS news]
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Group I base oil prices recently increased on feedstock costs and the flurry of rises that have hit the European market in the past several weeks.
Vacuum gas oil (VGO) premiums have moved to the $30s/bbl range over benchmark crude West Texas Intermediate (WTI).
“We are a little worried that it could get sloppy this summer,” the seller said. “Consumer confidence is very cautious and with gasoline prices moving up, we think confidence will drop in the second half of the year.”
Hosted by the American Fuel & Petrochemical Manufacturers (AFPM), the IPC continues through Tuesday.
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