Multiple price increases from suppliers and skyrocketing freight costs have forced AMSOIL to implement a price adjustment effective July 1. The adjustment mainly affects lubricants. AMSOIL has received price increases from base oil and additive suppliers as recently as today, and therefore cannot yet determine the exact percentage of increase necessary; however, it is expected to be approximately 3 to 8 percent. While the adjustment affects both the U.S. and Canada, the percentage of increase may vary in each country as conditions dictate.
AMSOIL refrains from adjusting pricing as much as possible. Unfortunately, the current market is not conducive to long-term pricing stability. While crude has recently demonstrated marginal stability, chemical suppliers continue to increase costs, citing tight supply within the industry and noting the lag between the increased price of crude and increased costs of producing high-quality raw materials. This is affecting all lubricant manufacturers. As AMSOIL prepares to implement its third price adjustment since January 1, some competitors have already imposed their fourth price increase this year.