Commodities
Costco Slashes Motor Oil Supplies Amid Soaring Oil Prices
Costco has raised the price of its Kirkland Signature full-synthetic motor oil to $58 for a 5-quart two-pack, up from around $30 last year.
The wholesale club operator is also limiting customers to purchasing only two boxes per week.
This move comes as oil prices continue to rise due to ongoing tensions in the Middle East, with Brent crude hitting above $109 per barrel on Monday morning.
The price hike and purchase limit are likely to affect consumers who rely on DIY car maintenance, already contending with high grocery prices and inflation worries.