Bangladesh Lubricant Prices Soar Amid Global Shortages and Middle East Conflict

Lubricant prices in Bangladesh have surged by up to 70% due to global raw material shortages and Middle East conflict.

Industry insiders attribute the sharp increase primarily to rising costs and tightened supplies of base oils, which account for 75-98% of a lubricant's formulation.

The crisis has disrupted base oil supplies and shipping through the Strait of Hormuz, pushing up freight, insurance, and transit costs for lubricant imports.

Retail prices have already risen, with some products increasing by several hundred taka to Tk2,000 per 4-litre pack.