Conflict involving Iran cuts base oil, oil changes reach $90
Heads up if you drive: getting your oil changed is about to cost a lot more.
Thanks to the ongoing conflict involving Iran, supplies of a key ingredient for synthetic motor oil have tanked, pushing prices way up.
Repair shops are seeing their costs jump from $300-$400 to $1,000 per drum, so expect your next oil change to go from $65 to as much as $85 or $90.
Base oil shortage risks slowing carmakers
US stockpiles of key Group III base oils from the Gulf region could run out by June, and dealers are scrambling to grab what they can.
Nissan is rationing supplies and Toyota is warning about global shortages that might last until mid-2027.
Experts say this shortage could even slow down car production (kind of like the chip crisis during the COVID-19 pandemic), so the impact goes way beyond just pricier maintenance.