Costco Imposes Limits Amid Synthetic Motor Oil Shortage

A shortage of synthetic motor oil has led retailers to impose new limits on purchasing. Costco raised the prices of its store brand synthetic oil and placed a limit on customers buying two boxes of oil per week at Costco stores.

The price hike affects a two-pack of Kirkland Signature full-synthetic motor oil 5-quart bottles, now priced at $58, up from about $30 the same time last year. This decision comes as refineries have been prioritizing gasoline production since May, leading to a shortage in synthetic motor oil.

The U.S. imports more than 40% of its synthetic motor oil supply from the Middle East, where the flow of oil has been restricted due to the ongoing conflict in Iran.