Costco Hikes Motor Oil Prices Amid Rising Global Crude Costs

Costco has increased the price of its Kirkland Signature full-synthetic motor oil to approximately $58 for a two-pack of five-quart bottles, nearly doubling from last year's price point of around $30. This move comes as global oil prices continue to rise due to ongoing instability in the Middle East.

The warehouse club has also implemented purchase limits, restricting customers to buying only two boxes per week. Additionally, Mobil 1 full-synthetic motor oil six-packs of one-quart bottles are now limited to five units per membership account at a price of around $44.

The surge in oil prices is largely attributed to the recent attack on a Saudi oil pipeline, which will remain shut down for weeks. This has led to Brent crude rising past $109 per barrel, and the national average price for regular gasoline reaching almost $4.32 per gallon. U.S. diesel prices have also reached a new record at an average of $6.23 per gallon.