Lubrication is a lot like Brylcreem - a little dab will do ya.

So, smear a little grease on any part of the hood release assembly that slides or pivots. Also, as importantly (maybe even more so), detach the Bowden cable from the hood latch and while holding the latch end high, drizzle a small amount of oil into the cable sheath. Don't go animal with the amount of oil you use and give it some time to migrate to the other end.

Rich (Near Pittsburgh)

Try greasing the hinges in the back. It seemed to help mine.

DOOOOOOOOOOOOOOOOOOOOOOOD,

Huh-huh, you said 242.

Dood, you are in SoCally. DUDE!

You want to check to check whether:
1 The hood lock (or latch) mounted on the cross member is well lubricated. (You may want to get some lube into both ends of the hood latch cable on your spectacular, yet AWESOME Volvo 242.)
2 The hood lock (or latch) receives the (under the hood) spring loaded lock pin (or post) when you slowly close the good. (The post should center, concentrically, into the receiving hood lock hole.)
3 The spring loaded lock pin is too long (most likely, they can loosen up over thyme) or too short. Use a beefy standard slotted screwdriver and twist. (May want to should some PB Blaster or some juicy lithium grease spray at the lock pin assembly and wait a while if you have rust in that area.)
4 The rubber twisty bumpers at the two front corner under the hood stick out too far, though this may be the least to cause your problems.

Cause # 2 is first, and then lube it all, and maybe the lock pin is too short and the rubber bumpers too long.

Adjustment is a holistic matter. Turn in the rubber bumpers complete. Lube up all the moving works. If the hood aligns between the fenders and the vented cowl, you need not futz with the hood hinge bolts to along it.

Try turning the lock pin screw to lessen the length by screwing it clockwise. The longer the lock pin sticks out, the greater the spring loaded force applied to the hood latch. Too short, and you'll also have problems with not enough force. The length of the lock pin is sort of countered by the length of the rubber bumpers at each front hood corner.

You can loosen the three hood lock (or latch) (mounted on the cross member) retain so the spring loaded lock pin aligns with the latch hole by closing it so that you see all aligns, and then tighten the three bolts.

Spray on some white lithium grease on the metal moving parts and into the hood release cable at both ends.

Hope that hep-kats, as kitty-kats are always helpful, like puppies and horsies.

Welp, have fun in SoCally. I'm a NorCally guy. Thanks for the awesome Agent Orange, the punk rock band, from Orange County, more or less. And Kyuss and Queens of the Stoned Age and other musical.

cheers,

Wanting to Live in Marin County, again. The Sex, Drugs, and Rock and Roll is waaaaaaaaay better.
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Dude. Hood lock pin, DOOD!