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Engen to trim lube prices

Engen Petroleum Ltd., South Africa’s largest fuel retailer, said in mid-January that a drop in input costs will translate into lower prices for lubricants in February. Lubricant prices increased almost quarterly throughout 2008, Engen Lubricants Marketing Manager Adnaan Emeran said in a statement. Engen, which is majority owned by Malaysia’s Petroliam Nasional Bhd, said that as the cost of imported components falls and local costs such as transportation and packaging decrease, further price decreases may be possible. (January 20, 2009)