Costco Hikes Motor Oil Prices Amid Ongoing Oil Price Surge

Costco has raised the price of its exclusive motor oil brand, Kirkland Signature full-synthetic motor oil, to $58 for a two-pack, up from around $30 last year. This increase is part of a broader trend as oil prices continue to climb.

The wholesale club operator is also limiting purchases of the 5-quart two pack to two boxes per week and capping sales of Mobil 1's full-synthetic motor oil at five units per membership.

According to industry estimates, over 40% of Group III base oils used in synthetic motor oil are imported from the Middle East. Ongoing tensions in the region have disrupted oil supplies, driving up prices and affecting other petroleum products as well.