Costco Hikes Motor Oil Prices Amid Rising Crude Costs

Costco has raised the price of its Kirkland Signature full-synthetic motor oil to $58 for a two-pack, up from around $30 just last year. The wholesale club is also limiting purchases to two boxes per week.

The move comes as oil prices continue to climb due to ongoing tensions in the Middle East. The price of Brent crude has risen above $109 per barrel, with Saudi Arabia's crucial oil pipeline set to be out of service for weeks following an attack last week.

As a result, diesel and regular gasoline prices have reached new highs, with the average cost of a gallon of diesel now over $6 and regular gasoline at nearly $4.32 per gallon. With more demand for diesel and gasoline than motor oil, oil companies are likely to focus on producing these products rather than motor oil.