Costco Limits Purchases of Synthetic Motor Oil Amid Price Increases

<p>Costco has increased the price of its Kirkland Signature full-synthetic motor oil blend, with the cost rising from just over $30 for a ten-quart case to $57.99 for two five-quart bottles. As a result, the retailer has implemented a purchase limit of one case per transaction and a maximum of two cases per week for members. Additionally, a six-quart case of Mobil 1 is priced at $44, with a five-per-member limit also in place.</p><p>The price increase and stock limitations are attributed to several factors, including the ongoing conflict between the United States and Iran, which has affected oil movement through the Strait of Hormuz. Brent crude prices rose from around $72 per barrel in July to $109 as of Monday morning.</p><p>Supply issues are further exacerbated by oil companies prioritizing diesel and gasoline production due to higher profit margins. Additionally, a major pipeline in Saudi Arabia was shut down following a drone attack, causing further supply chain disruptions. Andy Lipow, president of Lipow Oil Associates, indicated that the pipeline's repair could take months, which may lead to continued price increases.</p>