Spend Matters welcomes this guest post from Verity Michie, market analyst at Mintec.
Using a vehicle day in, day out can sometimes be taken for granted, but do we actually understand the ins and outs of them? When thinking about the cost of running a vehicle, we tend to think of fuel, tyres and servicing, but we are less likely to think of metal processing fluids and lubricating greases; nevertheless, they are important. These fluids and greases are made from base oils, which are derived as by-products of refining crude oil. Did you know that something as crucial as engine oil for your car is made from around 80%–85% of base oil?
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