Costco has hiked the price of its private label Kirkland Signature motor oil and capped the amount that customers may buy in an attempt to stave off hoarding and reselling. A five-quart two-pack now costs $58, up from about $30 it had been selling for last year, and customers may buy two boxes per week. It’s also limiting purchases of Mobil 1’s one-quart six-pack to five per membership. A barrel of Brent crude hit $109 on Monday, up from under $72 in July; with diesel and gas prices going up sharply, oil companies make more profit when they refine crude oil into diesel or gasoline instead of motor oil, and the incentives are aligning for a possible supply crunch in motor oil.
Doug’s Dime: The price of #oil going up
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