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Procurement Market Intelligence Report

Lubricating Oils
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Lubricating Oils?

What is the average price of Lubricating Oils?

This procurement report includes pricing information to help you purchase Lubricating Oils. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Lubricating Oils been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Lubricating Oils yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Lubricating Oils?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Lubricating Oils with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase ?

There are an estimated 1,440 suppliers of lubricating oil. Market share concentration in the market is medium, with the top four suppliers accounting for close to 40.0% of total market revenue. Concentration is moderate primarily because the top vendors have considerable brand-name appeal, which prevents smaller suppliers from earning significant... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Supplier Differentiation

How does your product compare with competitors'?

How significant are your capital expenditures?

How significant is your research and development division?

Has your market share increased in the past few years? If so, how have you captured market share?

Customer Service

How do you attract and retain business?

Are there any incentives for repeat customers?

Are there any incentives for customers that refer business to the company?

What promotional deals are offered?

How do you deal with customer complaints?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should state their total budget for the purchase of lubricating oils. If a supply contract is being signed, buyers should state either their monthly or annual budget for the contract.

Buyers should provide a breakdown of their budget, providing a budget for each type of lubricating oil if multiple types of lubricants are being requested.

Buyers should state how additional costs will be handled, such as transportation and delivery costs.

Selection Criteria

Buyers should assess the pricing of lubricants from each supplier.

Buyers should assess the supplier's ability to offer a product that fully meets their specifications.

Buyers should look at product availability and backorder time of products that are not adequately stocked.

Project Schedule

Buyers should provide a list of key dates that pertain to the RFP process, such as the final date to submit product samples, questions and final bids.

Buyers should provide key milestone dates that will occur after the RFP process has ended, such as the date products must be delivered by and the frequency of deliveries if a supply contract is being signed.

Evaluate major factors to mitigate risk

How risky is the supply chain?

The supply chain associated with lubricating oils poses a moderate risk of creating supply disruptions or price fluctuations. Petroleum refineries supply market vendors with their primary input: oil. These upstream suppliers typically have a high level of revenue volatility and experience fluctuating demand, resulting in a high risk of supply... Subscribe to learn more.