NRL raises base oil prices for the second time in one month

Attock Oil Refinery in Pakistan increased the prices of lubricating base oil by Rs3.50 (US$0.03) per liter, a move that could result in sharp increases in all finished lubricating oils, and would add an additional burden of Rs5 (US$0.05) per liter to consumers. The recent increase is the second by Attock and NRL management in less than one month and the fifth in four months. All Pakistan Lubricants Manufacturers Association (APLMA) Chairman Mian Zahid Husain called for the imposition of a price control mechanism for base oil. Zahid warned that if the trend continues, lubricant manufacturers would be forced to shut down their businesses, because it continues to be burdened by these price increases and the flourishing sales of smuggled products in the country. According to Zahid, lube oil prices have reached the highest level in the last two years, and this has affected the automobile and manufacturing sectors badly. (May 26, 2012)