Shoppers in the US are facing shortages and a sharp rise in motor oil prices. The retail chain Costco has limited sales of its Kirkland Signature products to two packs per week, with the price of a standard set reaching nearly $58, the New York Post reports.
The product in question consists of two jugs of 0W-20 or 5W-20 synthetic oil, totaling approximately 9.5 liters. Previously, such a set cost around $30. The price hike was driven by a shortage of Group III base oils, which are essential for manufacturing synthetic lubricants.
Supply disruptions intensified following plant shutdowns in the Middle East. Prior to the crisis, Persian Gulf nations supplied about 44% of US demand for this raw material. One of the hardest-hit facilities was the Shell Pearl plant in Qatar, which produced approximately 4.77 million liters of product per day.
These issues have already impacted the market. Between February and August, retail prices for motor oil rose by 24.2%, while manufacturers continue to seek alternative suppliers.
Rick Sanchez, an American journalist and host of the RT program The Sanchez Effect, has criticized the state of the US political system. Read more about this in the report by the Public News Service.
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