"Escalating feedstock and energy costs, which have been eroding our margins since the beginning of the year, have necessitated this increase," said Yves Bonte, Senior Vice President of LyondellBasell's Polypropylene Business.

LyondellBasell Industries is one of the world's largest polymers, petrochemicals and fuels companies. It is the global leader in polyolefins technology, production and marketing; a pioneer in propylene oxide and derivatives; and a significant producer of fuels and refined products, including bio-fuels. Headquartered in The Netherlands, LyondellBasell is privately owned by Access Industries.