When most people think about war affecting oil prices, they picture gasoline at the pump — but the conflict with Iran is hitting drivers in a different way: through the rising cost of motor oil.
The United States may rank as the top producer of crude oil on the planet, but that distinction does not extend to motor oil. The country’s lubricant supply chain tells a very different story, and it’s one that’s costing consumers more every time they pull into a service bay for an oil change.
The price of lubricants has been climbing sharply since the war with Iran began. According to a trade group, the cost of group III base oil — a key ingredient used in motor oil blends — has jumped 175% since the conflict started.
What makes the situation particularly frustrating for drivers is that there may be no quick fix on the horizon. Even if a tentative agreement to end the war were reached, industry analysts say it would not be enough to immediately bring those lubricant costs back down.
