Costco Cuts Off Motor Oil Buying Due to Record-High Kirkland Prices

Costco has implemented restrictions on buying motor oil due to record-high prices of its Kirkland-branded products. The company's website now shows that two 5-quart jugs of 5W-30 full synthetic motor oil cost $57.99, a significant increase from the previous range of $30 to $35.

The product page also displays a limit on transactions: one per membership with a maximum of two units every seven days. This means customers who need more oil than that will have to explore alternative retailers or wait until Costco lifts its restrictions.

The price surge is largely due to supply chain disruptions and unending crude oil shortages, which are caused by the Iran War. Full synthetic motor oil requires large amounts of Group III base oils, primarily made by refining crude oil. The U.S. imports around 40% of its crude oil from the Middle East, where refineries are down and supply is disrupted.