As you will undoubtedly be aware, markets worldwide are seeing unprecedented times as they experience the ongoing consequences of the Covid-19 pandemic. The lubricant sector is no exception to this, and it too is seeing several factors affect the cost and, in some cases, the availability of certain products.
With the global grounding of aircraft throughout 2020 and a huge reduction in demand for fuel across all industries, refineries across the world have been operating on a massively reduced basis which has had an impact on the availability of petroleum products, including base oils. Similar availability issues are also being experienced with additives along with the steel and plastics used in the packaging of lubricants.
In addition to this, the import of goods into the UK is being negatively impacted by a limited amount of container and vessel loading space, along with delays due to Brexit related red-tape and additional paperwork.
As the economy starts to open up again on the back of the vaccination programme, demand is increasing significantly and currently outweighing supply, and as a result of this perfect storm, many suppliers around the world have declared Force Majeure.
Pure Lubrication are not exempt from the effects of such pressures in the market, and we are seeing significant price increases across all brands of lubricants, fluids and greases. While we have not been affected by product shortages at this stage, it is difficult to say whether this will remain the case.
Pure are in a fortunate position to have excellent supply partnerships in place, which helps us to secure stock and continue to provide solutions for our customers. You can rest assured that our team will always endeavour to get you the products you need when you need them, and if, for whatever reason, we can’t, we will work closely with you on alternatives.
These are challenging times for all, but the Pure Team are here to help wherever we can and continue to support you with all your lubrication requirements.
We thank you for your continued business and look forward to more settled times ahead.