Costco Raises Motor Oil Prices Amid Soaring Crude Costs

Costco has raised the price of its Kirkland Signature full-synthetic motor oil to around $58 per two-pack, more than double what it was selling for last year. This increase is part of a broader trend of rising oil prices, which have been driven up by ongoing tensions in the Middle East.

The wholesale club operator has also limited customers to purchasing only two boxes of Kirkland Signature motor oil per week, and five units of Mobil 1's full-synthetic motor oil per membership. This move is likely an attempt to manage demand for its exclusive private-label brand amid soaring oil prices.

Oil prices have been climbing steadily over the past few months, with a barrel of Brent crude reaching above $109 on Monday morning. The disruptions to oil supplies in the Middle East, particularly following an attack on a key Saudi pipeline, have contributed to this increase. As a result, the average cost of a gallon of regular gasoline across the country has risen to nearly $4.32 from $3.18 just a year ago.