20 August 2013 19:22 [Source: ICIS news]
HOUSTON (ICIS)--US paraffinic base oil posted increases completed today, as each of the participating suppliers have confirmed price moves by Tuesday.
In the Group I tier, HollyFrontier confirmed it will increase its posted prices by 7 cents/gal on light and medium grades and by 15 cents/gal on its heavy grade and brightstock, all effective 23 August.
Group II producer Flint Hills Resources confirmed it will increase its light and mid viscosity base stocks by 10 cents/gal and its heavy grade 600 stock by 5 cents/gal effective on 20 August.
Group II, II+ and III producer Phillips66 earlier confirmed it is moving up all tier grades of base oils by 10 cents/gal effective 16 August.
Group II+ and III producer SK Lubricants also earlier confirmed it is increasing all base oil grades by 10 cents/gal effective 19 August.
The round of announcements began late July as Chevron announced 25 cents/gal increases on its base oils.
Base oil price increases were said to be driven by narrow margins exacerbated by crude oil costs topping $100/bbl during the past two months.
In Group I brightstock prices, HollyFrontier was at $4.60/gal ahead of the increase.
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