The price per barrel of oil is at $102 a barrel and it still cost me $3.89 to fill up by my work.
Motorcraft Oil and Lubricant Price Increase Effective OCTOBER 1, 2008
Motorcraft is announcing the following price increase for all motor oils, transmission fluids and greases due to continuing base oil and additive cost increases required to produce these products.
Prices will increase on average by 12%.
See the attached October 1 price sheets for complete details.
A dealer communication announcing this action will be sent on or before October 1, 2008.
WHY ANOTHER INCREASE?
While it is true crude oil prices have recently begun declining, base oil and additive cost decreases lag several months behind. We are still experiencing the price upswing associated with this lag.
In addition, limited supplies of base oil are contributing to this increase and could delay a decline in finished lubricant cost. This situation affects the entire finished product lubricant industry.
Motorcraft is not anticipating shortages of our product; however supply and demand for base oil could continue to put cost pressure on finished lubricant products.
Other major oil brands have already implemented similar, and higher, cost increases.