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Costco motor oil price jumps to $58 with new weekly purchase limit
Fox Business • • business
Key Points:
- Costco has increased the price of its Kirkland Signature full synthetic motor oil to $58 for a 10-quart case, up from $30-$35 in previous years, and is limiting purchases to two cases per week due to rising oil prices.
- The retailer is also restricting purchases of Mobil 1 full-synthetic motor oil six-packs to five per membership, with the current price around $44.
- The price hike is linked to higher costs of Group III base oils, largely imported from the Persian Gulf, where supply disruptions from regional conflicts have tightened availability.
- Brent Crude oil prices have surged above $109 per barrel amid Middle East tensions, contributing to increased gasoline and diesel prices in the U.S., with regular gasoline averaging $4.32 per gallon and diesel surpassing $6.23 per gallon.
- Rising crude oil prices continue to impact fuel and related product costs nationwide, reflecting ongoing geopolitical uncertainties affecting global oil shipments.
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