Costco Hikes Motor Oil Prices Amid Global Crude Price Surge

Costco has increased the price of its Kirkland Signature full-synthetic motor oil to around $58 for a two-pack of five-quart bottles, up significantly from last year's approximately $30 price point.

The warehouse club is also restricting customer purchases of this product to two boxes per week. Additionally, Costco has limited purchases of Mobil 1 full-synthetic motor oil six-packs of one-quart bottles, priced at around $44, to five units per membership account.

The price hike comes as global oil prices continue to rise due to ongoing instability in the Middle East. The war between Iran and other countries has disrupted oil supply lines, leading to a surge in crude prices. Brent crude has risen past $109 on Monday morning, while the national average price for regular gasoline has climbed to almost $4.32 per gallon.