Costco Raises Motor Oil Prices Amid Global Supply Shortages

Costco has raised the price of its Kirkland Signature full-synthetic motor oil to $58 for a two-pack and imposed a purchase limit of two boxes per membership weekly due to supply disruptions. The retailer also limits purchases of Mobil 1 full-synthetic motor oil six-pack to five per membership, priced around $44.

The price hikes and restrictions come as oil supplies tighten globally, impacting refinery outputs and consumer fuel costs. Brent crude has surpassed $109 per barrel due to conflicts in the Middle East, including attacks on key Saudi oil infrastructure.

Costco's decision to ration motor oil stems from a tighter supply chain where refineries prioritize producing gasoline and diesel over motor oil due to higher profitability and demand for fuels worldwide.