Tires, Oil, Lubricating Oil, Prices Will Rise Soon
Aug 26, 2022
On August 25th, Zhengxin Rubber issued a letter of tire price increase, saying that it plans to increase the price of all Maxxis products by 3-5% from October 1st.
This is the second price increase notice of Maxxis this month. A few days ago, Maxxis just announced that it will increase the price of Maxxis LTS&TL products by 3% from September 1st.
In addition to Maxxis, Michelin also announced that starting from September 1, the price of winter tires for Michelin-branded passenger cars will be increased by 7%.
The price of tires on this side has risen, and the price of lubricants on the other side has also risen.
Recently, Castrol issued a notice on the price adjustment of commercial vehicle lubricant products.
He said that due to the rise in international crude oil prices and the continuous rise in commodity prices, the cost of raw materials for lubricating oil continued to rise. At the same time, other production and operating costs have also risen to a certain extent.
Therefore, it was decided to make a moderate price adjustment for lubricant products from September 1, 2022, and the increase is expected to be 3%-6%.
It is understood that more and more lubricant companies have announced price increases in September.
Mobil Lubricants: From September 1, an average increase of 15% is expected
Great Wall Lubricants: From August 31, the adjustment range is 5%~8%
MOTUL lubricants: price adjustment from August 21
Chevron Lubricants: Prices will be adjusted from August 15th by 10% to 16%
Recently, the prices of the main raw materials for tires such as crude oil, rubber, carbon black, steel, etc. have declined, and the manufacturing cost of tires has been further reduced, but the overall price is still more expensive than in previous years.
Affected by the epidemic and the power curtailment policy, the product supply of some tire factories will be adversely affected, which will aggravate the price increase expectations of tire companies.
