Costco Raises Kirkland Motor Oil Price Amid Ongoing Oil Market Volatility
Costco has increased the price of its Kirkland Signature full-synthetic motor oil from around $30 to approximately $58 for a 5-quart two pack. This comes as Americans are already dealing with high grocery prices and inflation worries.
The wholesale club operator is also limiting customers to purchasing only two boxes of the motor oil per week, in addition to setting a purchase limit on Mobil 1's full-synthetic motor oil 1-quart six pack at five units per membership.
According to the article, synthetic motor oil relies heavily on Group III base oils, which are mostly made from refining crude oil. The United States imports more than 40% of these oils from the Middle East, where disruptions to oil supplies have been ongoing since the start of the Iran war earlier this year.