Costco imposes purchase limits on motor oil, hikes prices by nearly double
Costco set purchase limits and price hikes on motor oil as the company grapples with rising prices from global energy market disruptions.
TL;DR
- Costco's Kirkland Signature full-synthetic motor oil price has increased by nearly 100%, from about $30 to $57.99 for a two 5-quart bottle case.
- Customers are now limited to two boxes of motor oil per membership per week.
- Mobil 1's six-pack of 1-quart bottles has also risen to $44, with a limit of five purchases per membership.
- Experts suggest these price hikes and rationing are unlikely to significantly impact most individuals, especially those not managing large fleets.
- Recent global energy disruptions, including attacks on oil infrastructure and the seizure of the Bab el-Mandeb Strait, have contributed to a 4% rise in oil prices, with Brent crude reaching $105.66 and WTI reaching $101.28 per barrel.