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Article: Like a 'perfect storm': though oil prices have fallen, lubricant costs remain a heavy burden.(fluid management)
- Article from:
- Tooling & Production
- Article date:
- October 1, 2008
- Author:
CopyrightCOPYRIGHT 2008 Nelson Publishing. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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When oil prices surged in early summer, the increase sharply cut into the profits of numerous American businesses, pushing many to raise prices and maneuver aggressively to offset the growing cost of merchandise made from petroleum.
[ILLUSTRATION OMITTED]
Airlines, package shippers, and automobile owners were no longer the only ones being squeezed by the ever-mounting price of oil, which hit a record high of $147.27 a barrel on July 11. Though as of press time oil dropped by more than a third of its price, there was no change in the domino effect from months earlier. The high cost of petroleum-based products is touching every corner of the industry.
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