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The oil crisis is leaking into other parts of the car. Costco, the land of big and cheap, flipped the script and doubled the price of its full-synthetic motor oil and started rationing purchases. As crude pushes toward $100 a barrel, a 10-quart case that cost roughly $30 now runs $57.99, with purchases capped at two units per member per week.
U.S. diesel crossed $6 a gallon for the first time this week, and global oil inventories have drawn down more than 500 million barrels since the U.S.-Iran conflict began. This is affecting the entire crude industrial complex.
Base oil, which is the feedstock for motor oil, comes from the same barrel as gasoline and diesel so when refiners can earn more finishing crude into fuel than into lubricants, lubricant stock gets squeezed first.
The pressure for Costco, however, is more intense: Its signature Kirkland oil carries GM's Dexos1 Gen 3 certification, which requires manufacturers to pay GM separately per product and per unit sold. As a result, and much against its brand ethos, changing your own oil with Kirkland product now costs roughly what an independent shop would charge, thus eroding the DIY savings case entirely.
#crude #motor #case #week
The oil crisis is leaking into other parts of the car. Costco, the land of big and cheap, flipped the script and doubled the price of its full-synthetic motor oil and started rationing purchases. As crude pushes toward $100 a barrel, a 10-quart case that cost roughly $30 now runs $57.99, with purchases capped at two units per member per week.
U.S. diesel crossed $6 a gallon for the first time this week, and global oil inventories have drawn down more than 500 million barrels since the U.S.-Iran conflict began. This is affecting the entire crude industrial complex.
Base oil, which is the feedstock for motor oil, comes from the same barrel as gasoline and diesel so when refiners can earn more finishing crude into fuel than into lubricants, lubricant stock gets squeezed first.
The pressure for Costco, however, is more intense: Its signature Kirkland oil carries GM's Dexos1 Gen 3 certification, which requires manufacturers to pay GM separately per product and per unit sold. As a result, and much against its brand ethos, changing your own oil with Kirkland product now costs roughly what an independent shop would charge, thus eroding the DIY savings case entirely.
#crude #motor #case #week
2 days ago
