The U.S. may be the world's biggest producer of crude oil, but that's not the case for motor oil. The cost of lubricants is soaring, and even a tentative deal to end the war won't solve the problem.
A mechanic pours motor oil into a funnel inside a Chevron Corp. gas station in Albuquerque, N.M., in July 2016. The cost of group III base oil, used in motor oil blends, has risen 175% since the start of the war with Iran, according to a trade group.
Sergio Flores/Bloomberg via Getty Images
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Sergio Flores/Bloomberg via Getty Images
Motor oil prices are rising rapidly and some industry executives are warning of imminent shortages caused by the war with Iran.
Wholesale motor oil prices are rising rapidly, and some industry executives are warning of imminent shortages caused by the war…
As the Iran-U.S. war extended past its first week, Brent crude oil reached a two-year high of $114 per barrel on the Chicago…
The U.S. is increasingly reliant on the Middle East for the specific base oils that comprise most modern motor oils and…
Wholesale motor oil prices are rising rapidly, and some industry executives are warning of imminent shortages caused by the war…
Gas and home heating oil prices are on the rise as energy infrastructure falls victim to the escalating Iran war.
