For immediate release
United Kingdom, July 2026. Sinopec Online, an independent distributor of Sinopec products in the United Kingdom, today confirms that it is extending its price cap on hydraulic and engine oils, continuing to protect UK customers from ongoing volatility in global oil and lubricant markets.
Following its scheduled review at the end of July, Sinopec Online will apply the following maximum prices with effect from today, and until at least the end of August 2026:
- L-HM HPC Hydraulic Oils: capped at £2.50 per litre
- E7/E9/E11 Heavy Duty Engine Oils: capped at £3.00 per litre
Continuing to protect our customers through market volatility
When Sinopec Online first introduced these price caps in June 2026, it committed to reviewing the policy at the end of July in light of conditions in global oil and lubricant markets. That review falls at a time when those conditions remain unsettled.
Crude oil prices fell sharply in late June and early July, after the United States and Iran signed a memorandum of understanding to reopen the Strait of Hormuz. Since then, renewed fighting in the region, together with threats to shipping routes and attacks on export infrastructure elsewhere, have pushed crude prices back up. This continued volatility feeds directly into the cost of base oils and refined lubricant products.
In this context, Sinopec Online has decided to extend its price protection for customers rather than expose them to further short-term cost swings. Many of our customers rely on predictable pricing to plan their operations, and we recognise how disruptive continued volatility can be.
A continued commitment to transparency
As before, these figures are maximum prices, not fixed prices. Sinopec Online will continue to pass on any reductions in input costs to its customers without delay.
These measures apply to all qualifying hydraulic and E7, E9 and E11 heavy duty engine oil products distributed by Sinopec Online in the United Kingdom.
Review
Sinopec Online will reassess the situation at the end of August 2026 in light of global oil and lubricant markets, and will communicate any changes to this policy in advance.
