Costco Raises Motor Oil Prices Amid Ongoing Middle East Tensions

Costco has increased the price of its Kirkland Signature full-synthetic motor oil from approximately $30 last year to around $58 for a 5-quart two-pack. The wholesale club operator has also implemented purchase limits, allowing customers to buy only two boxes per week.

The move comes as oil prices continue to rise due to ongoing tension in the Middle East. Brent crude prices have jumped above $109 per barrel, with the price of a gallon of regular gasoline reaching nearly $4.32 across the country and diesel prices soaring past $6 per gallon on average.

Costco is not alone in limiting motor oil purchases, as other retailers may follow suit in response to high demand for diesel and gasoline. The United States imports more than 40% of Group III base oils from the Middle East, which has been dealing with disruptions to oil supplies since the start of the Iran war earlier this year.