Raw material supply eases at last

The oil industry has been strongly affected by the Coronavirus pandemic, with availability of raw materials a huge industry issue and prices for key materials sky rocketing in value.

We have had an unprecedented time of price rises and stock shortage threats and had to notify and implement a numbre of price increases to our whole customer base since March 2021.

However, the raw material supply issues are now beginning to ease. The Group 3 (Synthetic) base oil market is still exceptionally tight with ever increasing prices and lead times. There is hope that this will ease over the coming months with refinery turn arounds being completed, but supply will likely remain tight into early 2022.

Whilst Group 1 (Mineral) base oil supply is getting better, and supply is easing it is still far from pre-pandemic levels. We, as a business, continue to lean on the long-standing and excellent relationships we have with our suppliers to ensure we are able to manufacture. Managing this has been and continues to be a  challenge but one that we hope will reduce as we move forward to limit any impact on our customers.

We have an enviable reputation for excellent products with fair prices at Witham Group and we work hard to keep this. We’d like to take this opportunity to say thank you for your understanding, loyalty and custom and fully appreciate your commitment to us in these unprecedented times.

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