Motor oil prices may rise due to Iran conflict
Experts warn that the Iran conflict could impact synthetic motor oil prices and availability, though no nationwide shortage has been reported yet.
Experts warn that the Iran conflict could impact synthetic motor oil prices and availability, though no nationwide shortage has been reported yet.
Experts warn that the Iran conflict could impact synthetic motor oil prices and availability, though no nationwide shortage has been reported yet.
Motor oil prices may increase as the Iran conflict disrupts the supply of base oils used in many synthetic motor oils, industry experts warn. The base oils are currently stuck in the Strait of Hormuz, which could lead to higher prices and fewer options for some premium synthetic products.
This is not yet a nationwide motor oil shortage story. Nissan said it had issued a bulletin warning about possible motor oil shortages, but confirmed the bulletin has since been retracted. The company says that as of now, things are OK, but that could change quickly as the situation remains fluid.
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