Costco Slams Brakes on Motor Oil Sales Amid Soaring Oil Prices

Costco has raised the price of its Kirkland Signature full-synthetic motor oil two-pack from approximately $30 to around $58. The company is also limiting customers to buying just two boxes per week.

The same goes for Mobil 1's full-synthetic motor oil one-quart six pack, which now sells for about $44 and can be purchased in no more than five units per membership.

According to Patrick De Haan, head of petroleum analysis for GasBuddy, the price hike is a symptom of higher oil prices. 'As you would expect, everything derived from a barrel of oil is being impacted in different ways,' he said.

The national average for a gallon of regular gasoline has reached $4.31 as of September 14th, while diesel set a record with a national average of $6.23 per gallon on Monday, according to AAA data.