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Standard paraffin up 58%


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Just been advised by my supplier that my paraffin has now gone up again. This is a 58% increase this year!!!! They say that supply is understripped by demand in the world. I asked why it is up when the fuel prices are down and was told: Demand outstrips supply so tough luck, basically. Are you all getting this typical response?

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posted this in another thread, but this is relative to this post...RE: wax prices.

Demand for oil/fuel has dropped so far so fast, that most oil related products are also seeing a drastic slowdown. Like it or not, North American companies do a fair job of matching supply with demand. The same cannot be said for our friends in the Far East. Supplies there are starting to get long (high inventories). If crude stays down in 50-70 dollar range for a little while longer, there will be pressure to move this Wax (i.e., discount) from the Far East. This will drive the market price of wax down. I expect some softening on paraffin prices in early 2009. Demand during the holiday season is still high enough to keep prices from falling too much...but look out for the after Christmas sale!

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I saw that, but there's no way we were paying $2.09 a gallon when crude was $55 or $56 a barrell ya know? In other words, our prices are coming down very slowly as compared to others in the state or even the region.

posted this in another thread, but this is relative to this post...RE: wax prices.

Demand for oil/fuel has dropped so far so fast, that most oil related products are also seeing a drastic slowdown. Like it or not, North American companies do a fair job of matching supply with demand. The same cannot be said for our friends in the Far East. Supplies there are starting to get long (high inventories). If crude stays down in 50-70 dollar range for a little while longer, there will be pressure to move this Wax (i.e., discount) from the Far East. This will drive the market price of wax down. I expect some softening on paraffin prices in early 2009. Demand during the holiday season is still high enough to keep prices from falling too much...but look out for the after Christmas sale!

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