Chevron and Valvoline recently announced an increase on all their U.S. lubricating oils and grease products, citing the rising costs of the raw materials to produce their products. These price increases will go in effect on 2/24/2020 (Chevron) and 3/02/2020 (Valvoline).
Other major lubricant brands, including ExxonMobil, Sinclair, SOPUS/Pennzoil-Quaker State Company and others have also announced an increase. Click here to learn more.
Price increases for fuel and fuel-related products can be disconcerting. We hear you. We make every effort to help our customers understand the reasons behind increased costs and to mitigate the effect it will have on their businesses. The world of lubricants is closely tied to the worldwide oil industry. This industry is often subject to volatility, which can cause price fluctuations. Geopolitical and weather events can negatively influence the market. In a recent blog, we highlighted some of the changes to the Base Oil industry, a critical factor in the manufacturing of lubricant related products. Just like the oil market, any change can lead to price fluctuations.
We know that you need these materials to do your work and adjusting to unexpected increases can eat a chunk of your profits. We work hard to provide our customers with quality service and offer the products they need at competitive prices. However, we can’t control the market, and global changes will always affect the price of goods required, especially in the fuel and lubricant world.
So what can you do when prices change? As a consumer, you can’t dictate what a product costs. But you can make savvy choices that will help you save money in the long run. We want to offer a few suggestions that will help you get the most out of your lubricant supplies.
Extend lubrication intervals (where appropriate). Don’t change a lubricant too soon or too late. Many machines should not be subject to interval-based oil changes at all. Instead, their lubes should be changed “on condition” and only when there is a true need. Let the oil tell you when it needs to be changed, not the calendar. Regular oil analysis will help determine when its time.
Choose your products wisely. One of the reasons lubricants can be so difficult to produce is the increased specialization offered by providers. Research and development over the years have produced lubricant products to address specific engine requirements and needs. The current line of Chevron lubricant products features a variety of products to solve nearly every engine problem. Our qualified team can help you order the products that are suited for your exact needs. By using these specialized products, you will keep your machinery in better working order and prevent costly maintenance.
Maintain proper storage. Improper lubricant storage can cost you money. Contaminated or expired supplies can eat into your budget. That’s why it’s so important to follow proper storage and usage procedures.
Sign up for our oil analysis program. Our oil analysis program is a great way to maximize your budget. Consistent checking of your lubricant and fuel supplies can prevent contamination and waste and help you optimize the use of your supplies. It will save you money in the long run, and that’s always a good thing.
Cut back on waste and spills. The unused product left in drums or other containers is a waste. Our team can help you choose the right amount of supplies for your needs, so you aren’t wasting your inventory. Employ proper dispensing procedures at your business to cut back on spills. Every drop counts, and we want to help you get every last one.
Again, we know that there’s never a good time for a price increase for any business. We understand the impact of this news and how it may affect your business. We will strive to support your business by creating a plan to manage the price increases the best way possible and will always help our customers save as much as they can. Greg’s Petroleum Service strives to deliver quality products at affordable prices. For questions on how price increases across the industry may impact you, please contact your Greg’s Petroleum Service sales rep today.