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El Paso Faces Potential Motor Oil Shortage Amid Rising Prices

KVIA••CNN Newsource
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The automotive industry is bracing for a significant shortage of motor oil due to escalating wholesale prices and supply chain disruptions caused by the ongoing conflict in Iran. Key facilities in the Middle East have been damaged, and the closure of the Strait of Hormuz is exacerbating the situation. Experts predict that the U.S. could run out of crucial Group III base oil by June, impacting the availability of popular low-viscosity motor oils like 0W-16 and 0W-20. The Independent Lubricant Manufacturers Association warns that certain regions in the U.S. are already experiencing shortages, and the situation is expected to intensify this summer. While new lubricant production plants are anticipated to come online next year, immediate relief is unlikely.

Key Details: • U.S. may run out of Group III base oil by June 2024. • Shortages of low-viscosity motor oils expected to worsen this summer. • Valvoline claims to have sufficient supply for current demand.

supply-chain energy-prices iran-conflict motor-oil oil-shortage

People & Organizations

Department of EnergyQatarChris WrightStrait of HormuzTaylor RogersBen DietderichHolly AlfanoTom GlennIndependent Lubricant Manufacturers AssociationValvoline

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