Clean Harbors, Inc., a leading provider of environmental, energy and industrial services throughout North America, today announced that its Safety-Kleen subsidiary again is revising pricing related to managing used engine and industrial oils. Effective immediately, Safety-Kleen Environmental will be targeting an increase of $80 per stop with all customers across its used oil customer base.
Kevin Hayden, Executive Vice President, Safety-Kleen Environmental, said, “We are again taking the necessary steps to address the continuing rapid decline in crude oil indices and base oil pricing. These adverse energy market dynamics are decreasing the values of our re-refined products and byproducts, as well as our recycled fuel oil (RFO). This increase, which we will now be implementing in both the U.S. and Canada, is needed for Safety-Kleen to maintain the safe, reliable and quality oil collection service we provide to more than 200,000 customers.
“Due to market conditions, our re-refining business has been under significant margin pressure for the past three years. We are committed to returning profitability in the Safety-Kleen segment to levels closer to historical norms. The actions we are announcing today are necessary to avoid further deterioration in our existing spread and an important step toward achieving stabilization in this business,” Hayden concluded.