Retail

Nexen announces up to 5% price increase

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Nexen Tire America Inc. will increase prices up to 5% on its passenger, high performance and light truck tires effective July 1.

According to Nexen President Jack Oh, the main causes for the increases are escalating raw material costs, higher transportation costs (due to the price of oil) and overall operation expenses.

Continental Tire North America Inc. also will initiate price increases on July 1. The company will raise prices up to 5% on all its Continental, General and private brand passenger and light truck tires.

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