In recent days, the price increase notice of lubricating oil has erupted again. Since the end of last year, the price increase notice of lubricating oil has been sent in succession. Why does lubricating oil rise again and again?
Among the price increase notices of many enterprises, there are many international famous lubricating oil enterprises; There are also well-known domestic lubricating oil enterprises. According to the editor, dozens of lubricating oil manufacturers have issued price increase notices, and there are many lubricating oil brands that have repeatedly issued price increase notices. Since the beginning of 2021, the lubricating oil industry seems to be undergoing a new round of price increase

Next, Xiaobian popularized the multiple factors of price increase to Galont partners and people in the industry:
1. Base oil prices soared
Recently, crude oil futures in the New York market rose to the highest level in nearly two years, with the cumulative increase of 7.5% last week, the largest weekly increase in a month; At the time of the gradual recovery of the global economy, the decision of OPEC+not to increase production caught investors off guard. The benchmark crude oil futures of the United States broke through $66 per barrel, and Brent crude oil futures approached the $70 mark.
2. Additive cost increases
Lubrizol, Lubrizol, Chevron and Avaton, the world's four major lubricant additive giants, announced at almost the same time that the increase in the cost and price of lubricant additives by 8% - 9% will have a comprehensive impact on the global lubricant price. Since these four giants supply 90% of the global market demand for lubricant additives, it is not difficult to see that the increase in the cost and price of additives has caused this time, It will be an increase in the price of global lubricating oil market. This increase will not be limited to the domestic market price.
3. Environmental protection and limited production, high packaging costs
A few days ago, the Ministry of Ecology and Environment, the Ministry of Commerce, the National Development and Reform Commission and the General Administration of Customs jointly issued the Announcement on Matters Related to the Comprehensive Prohibition of the Import of Solid Wastes, which clearly prohibits the import of solid waste in any way. In this way, the import of plastic waste paper from abroad is prohibited, and the manufacturing cost of the internal and external packaging of lubricating oil is bound to rise. Iron surged by 30%, which also led to a rise in the cost of lubricating oil drum packaging, and increased pressure on the cost of enterprise packaging.
Next, Xiaobian will show you the opinions of the industry. Previously, industry media interviewed lubricant manufacturers in several provinces. An enterprise in Jiangsu believed that the imported crude oil was in shortage in the first quarter of 2021, and the overall price level rose after the year, and was still bullish in March and April.
Although many domestic lubricating oil giants are in full production at present, the shortage of imported base oil and the tightening of upstream crude oil supply are established facts. In the near future, it will inevitably lead to the situation of "making bricks without straw". Therefore, the price of lubricating oil will probably be high throughout 2021.

Just after the Spring Festival, with the dealers returning to work, the downstream replenishment also gradually increased. Xiaobian believes that more lubricating oil companies will announce price increases next. In this case, stock is the best time. However, no matter whether the price rises next or not, all bosses should stock up rationally according to their own needs.
The editor suggested that all bosses pay more attention to the price of crude oil in order to make the most correct decision! Galont will also pay close attention to the trend development, feed back the market information to the partners in time, and follow the trend with you. At the same time, we will explore more interesting and in-depth marketing solutions to promote the rapid development of Galont brand.