Costco Raises Motor Oil Price Amid Ongoing Middle East Tension

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

The price increase comes as oil prices continue to climb due to ongoing tension in the Middle East. The average cost of a gallon of regular gasoline has risen to nearly $4.32, and diesel prices have hit a record high of $6.23 per gallon.

With oil companies prioritizing refining crude oil into diesel or gasoline over motor oil, it remains to be seen if other retailers will follow suit by raising their own prices or setting purchase limits.