AMSOIL is continuing to face rapidly rising raw-material, labor and transportation costs. Unprecedented market volatility and supply-chain disruptions are driving costs upward in unpredictable and rapid fashion. AMSOIL’s suppliers have passed on multiple significant increases on everything from the base oils and additives used to formulate lubricants to the cardboard and plastic used for packaging.
Competitors have also issued multiple price increases, including recent March and April increases of up to 25% from ExxonMobil, Valvoline and Chevron. According to Jobber’s World, 2022 has already recorded the highest price increases in over 20 years. AMSOIL has held the line on pricing as long as possible.
All AMSOIL products will increase approximately 12% effective immediately.AMSOIL DealerZone Press Release
Why is AMSOIL raising prices?
Industries around the globe are facing raw-materials shortages, labor shortages and even shortages of drivers to deliver materials. Meanwhile, demand is unrelenting. This combination, along with lingering effects of weather-based disasters and other problems at production facilities is driving a period of unprecedented volatility in the lubricants industry. AMSOIL have received multiple rapid and substantial price increases from their suppliers, forcing an increase in the prices of AMSOIL products.
Is a 12% increase warranted?
Yes. AMSOIL has enacted multiple measures to avoid passing price increases along to AMSOIL Dealers and customers for as long as possible based on projections for increased stability. At this point, costs have risen so substantially AMSOIL can no longer absorb them. Competitors have issued multiple price increases, including recent increases of up to 25% by ExxonMobil, Valvoline and Chevron. In fact, according to Jobber’s World, 2022 has already recorded the highest price increases in over 20 years.
When is this market volatility expected to end?
We do not know. All signs now indicate volatility will remain until at least early 2023.
Are all products and package sizes increasing equally?
No. Filters are not increasing. Drums and totes will not increase 12%; the amount they increase will vary.
Is there going to be another price increase soon?
We cannot predict when the next price adjustment will be required. This price adjustment is expected to hold steady for a few months; however, the market has been completely unpredictable and does not allow for confidence in any predictions.
Are you sending Dealers and accounts updated price lists?
Yes. Dealers will receive an updated price list as a special mailing. Accounts will receive a price list in the April edition of Service Line.