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The Independent UK
The Independent UK
National
Michelle Chapman

Costco forced to raise price of popular Kirkland item after oil prices skyrocket

Costco Kirkland Oil
  • Costco raised the price of its Kirkland Signature motor oil to roughly $58 for a two-pack and limited purchases to two boxes per week as oil prices rise.
  • The retailer also restricted purchases of Mobil 1 motor oil six-packs to five units per membership account.
  • Surging crude oil prices past $109 per barrel follow Middle East supply line disruptions, impacting the base oils required for synthetic motor oil.
  • Escalating crude costs pushed the U.S. national average price for regular gasoline to $4.32 per gallon and diesel to a record $6.23 per gallon.
  • Oil refiners are prioritizing gasoline and diesel production over motor oil due to higher profit margins and demand, potentially tightening lubricant supplies.

IN FULL

Costco nearly doubles Kirkland motor oil prices while implementing purchase limit

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