Costco Hikes Motor Oil Prices Amid Ongoing Middle East Tensions

Costco has raised the price of its exclusive Kirkland Signature full-synthetic motor oil, increasing it to around $58 per two-pack from approximately $30 last year. The wholesale club operator is also limiting customers to purchasing only two boxes a week.

The move comes as oil prices continue to rise due to ongoing tension in the Middle East. Brent crude has jumped above $109 per barrel after an attack on a Saudi oil pipeline and disputes between the US and Iran over the Strait of Hormuz.

Other motor oil retailers such as Walmart, Amazon, and AutoZone have not yet announced price increases or purchase limits, but Costco's move is likely to be followed by other companies in the industry.