Costco Slams Brakes on Motor Oil Bulk Buying Amid Crude Price Surge

Costco's bulk buying policy has hit a snag for one of its most popular items: motor oil. The retailer has capped purchases of its Kirkland Signature full synthetic motor oil at two units every seven days, according to CNBC. This comes as the price of a two-pack of 5-quart bottles has jumped from around $30 to $57.99.

The price hike is due to rising crude oil prices, which have climbed above $109 a barrel this week - their highest level since May. As a result, refiners are prioritizing gasoline and diesel production over base oil, the key ingredient in synthetic motor oil, leading to a squeeze on supply.

This increase is not isolated to Costco, however. Mobil 1 is facing similar limits, capped at five units per membership at $43.99 for a 6-pack.