Commodities
Costco Raises Motor Oil Prices Amid OPEC's Price Hike
A recent surge in oil prices has led Costco to raise the cost of its private label motor oil and impose purchase limits on customers.
The price of a five-quart two-pack of Kirkland Signature motor oil has increased from around $30 last year to $58, with customers now limited to buying two boxes per week.
The company has also capped purchases of Mobil 1's one-quart six-pack at five units per membership.
The price hike follows a significant increase in the cost of Brent crude oil, which hit $109 on Monday, up from under $72 in July.