The war with Iran is making oil changes pricier. And a deal won't solve it
The U.S. may be the world's biggest producer of crude oil, but that's not the case for motor oil. The cost of lubricants is soaring, and even a tentative deal to end the war won't solve the problem.
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The war with Iran is making oil changes pricier. And a deal won't solve it June 16, 202611:29 AM ET Camila Domonoske A mechanic pours motor oil into a funnel inside a Chevron Corp. gas station in Albuquerque, N.M., in July 2016. The cost of group III base oil, used in motor oil blends, has risen 175% since the start of the war with Iran, according to a trade group. Sergio Flores/Bloomberg via Getty Images hide caption toggle caption Sergio Flores/Bloomberg via Getty Images Stay up to date with our Up First newsletter, sent every weekday morning. The war in Iran has pushed up the price of crude oil and derivatives like gasoline, diesel and jet fuel — all of which have been making headlines for months.
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