Lubricant and tire prices soar due to tariffs

Foreign media reports show that tire prices have increased. Sumitomo Rubber North America will increase the price of passenger car and light truck tires by 25% and commercial truck and motorcycle tires by 10% in the US and Canadian markets from May 1! Affected by US tariffs, the United States imposes a 25% tariff on imported tires except Mexico and Canada. Sumitomo Rubber North America transfers tariff costs by raising prices to maintain the company's profit level.

Lubricant price increases In addition to tire prices, affected by tariffs, many lubricant companies have issued price increase notices.

On April 11, 2025, Castrol (Shanghai) Management Co., Ltd. issued a communication letter stating that in the close connection of the global economy, the lubricant industry is closely related to the international market. Recent

The dynamics of tariff policies have attracted widespread attention. Changes in tariff policies may lead to significant changes in the costs of lubricant products and raw materials. On April 8, 2025, Shell (China) Co., Ltd. issued a communication letter on the price adjustment of lubricant products. The company stated that since some Shell lubricant products and raw materials such as base oils and additives are imported from the United States, the cost of related products will be affected by the tariff changes.

Although the company is taking measures such as optimizing the supply chain to minimize the impact of this tariff policy change, it is still estimated that a certain proportion of products cannot be avoided. After careful consideration and evaluation, the company has to adjust the prices of related products. ExxonMobil (China) Investment Co., Ltd. relies on a diversified supply network covering the world and strong localized production capabilities. ExxonMobil continues to integrate global resources (China, Asia Pacific and other regions) and continuously optimizes the supply chain of lubricant and grease products to ensure the supply of your company's products.

Fuchs Lubricants issued a price adjustment communication letter stating that although the company is actively optimizing the global supply chain and taking a number of measures to minimize the cost pressure brought about by this policy adjustment, price changes and delivery fluctuations of certain products have become inevitable.

The company always puts the interests of customers first and only makes price and delivery adjustments when absolutely necessary. The company will closely monitor policy dynamics, adjust the prices and delivery of related products in sync with changes, and promptly report any relevant follow-up arrangements to you.

PETRONAS Lubricants said that in order to fully support PETRONAS Lubricants' partners and customers, our company has taken a series of supply chain optimization measures to reduce the resulting cost increases. However, the substantial cost increase brought about by high tariffs is inevitable.

After careful consideration, our company has to adjust the prices of some PETRONAS Lubricants products in the next few months, but our company will use PETRONAS's global supply chain network to ensure the sustainable supply of related raw materials. Tianjin Sunsea Lubricant Co., Ltd. stated that many raw materials and additives used in the lubricant products produced by the company are affected by their origin in the United States, and will continue to face price pressure in the future.

The company is fully evaluating the impact of raw materials and additives from the United States on product production and supply and cost increases, optimizing the supply chain system, expanding procurement channels and maximizing the use of storage resources, and striving to delay the price adjustment cycle. Lukoil Lubricants said that due to the recent international economic and political instability, the prices of raw materials such as base oils and additives have continued to rise, resulting in an increase in the cost of lubricant products.

At the same time, considering Lukoil's long-term strategic plans for the Chinese market, the company continues to increase investment in various aspects, including the upgrade of upcoming products and packaging, investment in personnel and market expansion, etc. In view of the above situation, the company will make appropriate adjustments to the sales prices of passenger car and commercial vehicle lubricant products from April 1, 2025, and the increase is expected to be controlled within 3-5%.

Lubricant and tire prices will continue to rise. Affected by the trade war, the prices of various lubricants, raw materials used in tire production, and small materials are difficult to predict. As the price of tire raw materials rises, the price of tires will also rise. Although the price of tires is still affected by market competition, in the long run, what about the price of tire products?

The profits of current tire companies, whether domestic or foreign tire companies, have been squeezed very low, so tire companies only have one way to survive: raising prices! The price trend of various products in the entire market is upward, and tire products are no exception. Those who say that tire prices will drop just have to wait and see, because that day may not come in the short term.