A lubricating oil composition comprising (a) a major amount of an oil of lubricating viscosity; and (b) an oil soluble epoxide compound having the following structure: wherein X is hydrogen or a substituted or unsubstituted C1 to C20 hydrocarbyl group, wherein the substituted hydrocarbyl group is substituted with one or more substituents selected from hydroxyl, alkoxy, ester or amino groups and Y is —CH2OR, —C(═O)OR1 or —C(═O)NHR2, wherein R, R1 and R2 are independently hydrogen or C1 to C20 alkyl or alkenyl groups; and further wherein the oil of lubricating viscosity does not contain a carboxylic acid ester.