- 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.
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