Plastic additive producer Albemarle ( ALB - Get Report) said it will raise the prices of its North American Ethanox lubricant and fuel antioxidants by about 30%, effective June 15.

The company said it will also raise the prices of dilutions and blends to reflect higher base oil and solvent acquisition costs, the Baton Rouge, La., company said.

"Drivers for this price increase include the need to recover isobutylene, base oil and energy costs," the company said. "The price increase also supports our global growth, our introduction of new products to meet future engine oil requirements and regulatory efforts to support existing products."

The company's stock recently was trading at $46.75, up 34 cents.

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