Oil changes are getting more expensive, as the price of motor oil rises this year. But some drivers could feel the pinch more than others.
Tess Warner, who drives a Volkswagen, is dealing with the double burden of expensive diesel fuel and now rising synthetic oil costs.
"The last time I filled it up when it was about on empty, it was almost 80 bucks," she said. "Everything's going up, man."
WATCH as customers and a shop explain how soaring oil prices are impacting drivers:
Some retailers, including Costco, are limiting how much motor oil customers can buy due to supply disruptions since the start of the Iran war.
Which vehicles are impacted?
The shortage primarily affects low-viscosity synthetic oils like 0W-8 and 0W-16, which are used in newer hybrid and fuel-efficient engines.
While all vehicles need oil, some are more dependent on specific synthetic blends and strict change schedules.
RELATED STORY | Retailers put new purchase limits on motor oil as supply crunch continues
"If you've got a high-performance car or maybe a very demanding heavy-duty truck, those kinds of things, the oil is that much more critical to the engine's long life and durability," said Karl Brauer, executive analyst at iSeeCars.
Robert Paffe, service manager at Dubwerx in Cincinnati, said synthetic oil prices have climbed sharply, 20% to 30% higher compared to June.
Paffe said some brands of synthetic blends required for the imported cars his shop services are completely unavailable. "We were told flat out 'no' that you can't buy any," he said.
Paffe said his shop has been able to find alternative brands for now. The shop placed a large order in June to secure supply through the end of the year.
"Probably around Christmas time we'll start running into needing to get another order in," he said, adding that the next order, "without a doubt, is going to see an increase."
What drivers can do now
Brauer offered some reassurance, noting that modern oil is more durable than it used to be and does not need to be changed every three months.
"If you've had your oil change recently, you're in good shape," he said.
For drivers approaching an oil change, Brauer said there is no need to stockpile, but if you know your car is due for an oil change in the next few months, he suggests planning ahead.
"Go out and secure the oil for the car, and then you've got it when that time comes," he suggested.
RELATED STORY | Owning a new car now costs more than $12,000 annually amid higher gas prices
Paffe said he expects shortages to persist as conflicts in Ukraine and the Middle East continue to affect oil refineries.
"Unfortunately, with one of the larger facilities being damaged overseas, that's what's causing the shortage with everybody," he said.
If you know your vehicle requires synthetic oil, budget for higher oil change prices in the months ahead, so you are prepared and you don't waste your money.
___________________________________
"Don't Waste Your Money" is a registered trademark of Scripps Media, Inc. ("Scripps").
_____________________________________
Follow John:
- Facebook: John Matarese Money
- Instagram: @johnmataresemoney
- X/Twitter: @JohnMatarese
For more consumer news and money saving advice, go to www.dontwasteyourmoney.com
