Costco has raised the price of motor oil sold under its exclusive private-label Kirkland brand and is now limiting how much customers can purchase weekly amid rising oil prices.
A 10-quart case of Kirkland Signature full synthetic motor oil is now $58, according to Costco’s website, after previously selling for roughly $30 to $35 for much of the past several years.
Customers are limited to two cases per week, the product page reads in bold.
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Additionally, Costco is limiting purchases of Mobil 1 full-synthetic motor oil’s 1-quart six-pack, which is listed at about $44, to five per membership.
FOX Business reached out to Costco for comment.
The synthetic motor oil relies heavily on Group III base oils, which are produced by refining crude oil. Industry analysts say a significant share of the Group III base oils used in the U.S. is imported from producers in the Persian Gulf, where supply disruptions tied to the conflict have tightened availability.
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The price of a barrel of Brent Crude exceeded $109 on Monday morning as the conflict in the Middle East keeps disrupting global oil shipments.
Brent has increased from less than $72 in early July amid uncertainty over whether a diplomatic resolution will restore normal oil shipments through the Strait of Hormuz.
Rising oil prices have pushed the national average price of regular gasoline to nearly $4.32 per gallon, up from $4.08 a month ago and $3.18 a year ago, according to AAA.
Diesel prices in the U.S. reached another record on Friday, surpassing $6 a gallon on average. Prices continued to rise on Monday, with diesel at $6.23 a gallon on average after an average of $5.90 a gallon a week ago, according to AAA.
Prices for diesel and regular gasoline generally track crude oil prices.
It remains unclear whether other motor oil retailers such as Walmart, Amazon and AutoZone will raise their prices or set purchase limits.
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