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US PPI — Petroleum Lubricating Oil and Grease Manufacturing

Producer Price Index for domestic lubricating oil and grease manufacturing, a free fallback to the paid Argus/ICIS base-oil assessments.

735.895+1.3% m/m+17.1% y/y+44.4% 5y

Sep 2026 value · Next print expected around Nov 2026 · Source: BLS

Price history

Sep 2026 · latest735.895+44.4%since Sep 2021
40050060070080020222023202420252026735.9
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Range
Format

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MonthValueChange m/m
Sep 2026+1.3%
Aug 2026+0.1%
Jul 2026+4.4%
Jun 2026+2.8%
May 2026+6.2%
Apr 2026+2.1%
Mar 2026+0.1%
Feb 2026−0.3%
Jan 2026−0.6%
Dec 2025−0.1%
Nov 2025+0.2%
Oct 2025−0.1%
Sep 2025+0.0%

Same numbers as the chart, straight from BLS. Dates are the first of each period, the way BLS reports them.

How it's built

Made from12 mo

No single input series stands out for this index.

Petroleum and coal products mfgOther petroleum and coal products mfg

PCU324191324191Petroleum Lubricating Oil and Grease mfg735.895Sep 2026 · +17.1% over 12 months

Key figures

Since Jan 2017
+79.3%
410.4 to 735.9
12-month volatility
±2.1%
std. dev. of monthly change
Largest monthly rise
+6.2%
May 2026
10% cap would bind
4 of 36
months, annual base reset
  • From Jan 2017 to Sep 2026 the index went from 410.4 to 735.9, a change of +79.3%.
  • Highest reading in that period: 735.9 in Sep 2026. Lowest: 410.2 in Feb 2017.
  • Largest one-month rise: +6.2% in May 2026. Largest one-month fall: -1.2% in Sep 2023.
  • For a clause that resets its base every year, a 10% cap or floor would have limited the adjustment in 4 of the last 36 months.

Use it in a contract

Draft clause citing this series

A starting point citing this series by name and code. Replace the bracketed terms with your contract's actual scope before use.

The [affected portion] of the Contract Price shall be adjusted using US PPI — Petroleum Lubricating Oil and Grease Manufacturing (BLS series PCU324191324191), published by BLS.

Base Period: the index value published for September 2026 (or the month of contract signing, if different) is the Base Value.

Adjustment: at each Adjustment Date, the Current Value is the most recently published three-month average of the index (the Averaging Window). The Escalation Factor equals Current Value divided by Base Value.

Cap: the Escalation Factor applied under this clause shall not exceed 1.10 or fall below 0.90 (a 10% cap and floor) in any single Adjustment Date, regardless of the index's actual movement.

[Replace bracketed terms with your contract's actual affected-portion definition and adjustment-date schedule before use. This is a drafting starting point, not legal advice.]
Why contracts cite this index

Use when neither contract party holds an Argus or ICIS subscription, or as a free sanity check against a subscription-based number.

How this index is used (1 guide)

How do you structure a price escalation clause for lubricants and chemicals?

Base oils have two real named benchmarks, Argus Base Oils and ICIS Base Oils-Lubes, both weekly, both subscription-only. A domestic BLS proxy exists as a free fallback, PCU324191324191 for lubricating oil and grease. There is no confirmed standalone "Argus Additives" product, despite that name circulating informally, so verify the exact report name before citing one in a contract.

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