Financial Times: The conflict with Iran has caused a severe global shortage of engine oils, leading to price increases to record levels
6 Articles
6 Articles
Engine oil, also known as drain oil, is an essential product for driving your car. But since the beginning of the Middle East war, the shortage of engine oil has been a challenge for the automotive industry.
Costco and Walmart Limit Motor Oil Sales as Base Oil Prices Hit Record
U.S. retail giants Costco and Walmart have imposed purchase limits on motor oil as the country faces a severe shortage of lubricants and record-high prices. The crisis stems from a critical depletion of strategic reserves and production failures in the petrochemical sector, threatening the maintenance of both private and commercial vehicle fleets. At Costco, a 9.4-liter pack of synthetic motor oil now costs $57.99, with a strict limit of one uni…
Costco Limits Motor Oil Purchases as Iran War Disrupts Supply Chain
The war with Iran is increasingly being felt by American motorists as disruptions to energy production and shipping tighten supplies of the high-grade base oils needed to manufacture synthetic motor oil. The price of Group III base oil — a critical ingredient in many full-synthetic automotive lubricants — reached a record $12.45 per gallon on […]
A severe global shortage of motor oil has emerged, adding to rising fuel and food prices, putting yet another burden on consumers, the Financial Times reports. The price increase far exceeds the increase in the cost of crude oil or fuels. We will also be covering similar topics at our Portfolio Investment Day conference on October 21. One of the biggest investment events of the year is coming up, where professional experts will tell you what to …
The price of motor oil has increased by more than 300 percent since the outbreak of the war. Wholesale retailer Costco has limited purchases for its customers to two units a week and raised the price. Walmart reported low inventories of several brands of oil.
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