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00:02Costco has limited motor oil purchases and raised prices as rising crude prices tighten
00:07supplies of petroleum-based products, according to CNBC.
00:11The retailer is limiting its Kirkland Signature full synthetic motor oil to two units every
00:16seven days per membership.
00:17The two-pack of five-quart bottles now costs $57.99, up from a typical price near $30.
00:24The membership retailer also limited purchases of Mobile One motor oil to five units per
00:29membership.
00:30Costco did not immediately respond to CNBC's request for comment.
00:34The restrictions come as Brent traded above $109 per barrel and WTI futures above $104
00:40Monday morning before both benchmarks paired gains.
00:43Refiners are favoring diesel and gasoline production over base oil, a key component in synthetic
00:48motor oil, further tightening supplies and pushing prices higher.
00:52For all things money, visit Benzinga.com.
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