Costco raises price for Kirkland motor oil, sets purchase limit

Key Points:

• Costco has increased the price of its Kirkland Signature full-synthetic motor oil two-pack to around $58, nearly double last year's price, and is limiting purchases to two boxes per customer per week amid rising oil prices.
• The wholesale club is also restricting sales of Mobil 1 full-synthetic motor oil six-packs to five per membership as synthetic motor oil production relies heavily on Group III base oils, which are affected by Middle East oil supply disruptions.
• Brent crude oil prices have surged above $109 per barrel due to ongoing conflict in the Middle East and attacks on key Saudi oil infrastructure, contributing to higher fuel costs in the U.S.
• Gasoline prices have risen to an average of $4.32 per gallon, while diesel prices hit a record high of $6.23 per gallon, reflecting the close link between crude oil prices and fuel costs at the pump.
• It is uncertain whether other major retailers like Walmart, Amazon, and AutoZone will follow Costco's lead in raising motor oil prices or imposing purchase limits amid the current market conditions.