Drivers are getting little relief at the gas pump. Now the war in Iran could make routine vehicle maintenance more expensive as well.
Certified mechanic and shop owner Marc Duebber said the cost of wholesale motor oil has gone up drastically this spring.
“I think the biggest hit is coming on the synthetics, because synthetic oil prices are jumping up to 150%,” he said.
RELATED STORY | Strait of Hormuz tensions threaten to push gas past $5 a gallon by June
He said supply is already an issue with his suppliers cutting back on how much motor oil they’re able to deliver.
“I’m calling and putting the hammer down on my sales guy and saying, ‘Hey, we're running low on oil,’ and he's telling me, 'I'm doing the best I can to get it there,'” Duebber said.
Watch as a certified mechanic shows the impact of rising motor oil prices:
According to the trade journal The Drive, at least two automakers are allegedly sounding the alarm over a dwindling stock of motor oil due to the Strait of Hormuz blockade.
Nissan reportedly drafted a bulletin notifying service departments of a supply crunch. According to The Drive, it hasn’t been distributed.
Duebber, owner of Duebber’s Automotive in Cincinnati, said he’s adjusting prices daily, based on what his suppliers are charging each week.
“We're just being honest with people and telling them up front,” he said. “This is what it’s going to cost you to have an oil change today.”
Save on your oil changes
To save on an oil change, consider the following options:
- Look for coupons, online discounts or loyalty discounts
- Check your vehicle’s manual for recommended oil change intervals (you may be able to get more mileage before your next oil change)
- Perform the service yourself if you feel qualified and have the proper tools
But don’t skip oil changes, or mechanics say you risk costly engine damage.
RELATED STORY | Oil companies look beyond Middle East for new supply sources
Duebber said some bigger chains may still offer the cheap $30 to $40 oil change, likely accepting oil changes as a loss leader to get drivers in the door.
"Can they afford to give that oil change away at that price? I personally can't,” he said.
Nissan provided the following statement regarding a motor oil shortage:
“Nissan is closely monitoring current oil supply constraints in coordination with our supplier partners. We remain fully committed to supporting our dealers and maintaining a high level of service for our customers.”
Scripps News received the following statement from Valvoline Inc., which operates 2,400 retail oil change service centers:
“Valvoline Inc. has adequate supply to serve our customers today and for the foreseeable future. We are working closely with our supplier to proactively manage any potential impact from the current market environment and ensure our customers continue to receive the quick, easy, trusted preventive maintenance we are known for.”
If your vehicle needs an oil change, consider scheduling sooner than later, so you don’t waste your money.
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