Costco has sharply raised the price of its Kirkland Signature motor oil and imposed new purchase limits as oil prices continue to climb. The warehouse club’s 10-quart Kirkland Signature full-synthetic motor oil now sells for about $58, up from around $30 last year.
The company is also limiting sales to two boxes per customer per week. A separate Mobil 1 full-synthetic motor oil six-pack, priced at about $44, is capped at five per membership. The new limits may bring to mind past buying panics, but the article says the change is not expected to have a major immediate effect on everyday drivers.
GasBuddy petroleum analyst Patrick De Haan said typical passenger cars need only about four to five quarts of oil every 5,000 miles, making Costco’s limit reasonable for most consumers. He said the restrictions are mainly a concern for companies that manage thousands of vehicles.
The move reflects broader pressure in global oil markets. De Haan pointed to attacks in the Middle East and Red Sea region, strikes on Saudi Arabia’s east-west crude pipeline, and drone attacks on Russian refineries by Ukraine as factors pushing crude prices to their highest level in months. Brent crude rose above $109 a barrel Monday morning, and refiners have shifted more crude toward higher-margin gasoline and diesel production, reducing supply for motor oil.
