Why Are Tyre Prices Rising?

Over past months there has been a significant rise in the cost of raw materials used to manufacture tyres.  Most tyre makers are now passing costs on to their customers, lifting prices between 2-5%  Unusually heavy rains across tropical regions led to reduced rubber production, rising crude oil prices and increased demand have all pushed up prices.  With raw materials comprising 50-60% of the cost of a tyre, forecasters are not expecting prices to return to previous levels for some time.