Membership giant Costco recently raised the price of gas and other popular items.
While gas from Costco tends to be cheaper than that from regular gas stations, it has been quietly increasing its prices, according to a report by Fox Business.
Also, Costco’s former CFO Richard Galanti hinted at a potential price hike for Costco’s popular Gold and Executive memberships for the first time since 2017 during Costco’s earnings call for the first fiscal quarter. The increase is expected to be between $5 and $10.
Costco has become a destination for inflation-wary shoppers due to its bulk purchases with competitive prices, but price hikes on popular items were inevitable.
According to ETNT, shoppers have reported noticeable changes in the price of Kirkland Signature Organic Extra Virgin Olive Oil. At a Brooklyn store, the price jumped from $16.99 in March last year to $24.99 this year.
However, Costco’s old staple, the $1.50 hot dog and soda combo, is staying the same for now, with its price having remained unchanged for nearly 40 years.
BY HOONSIK WOO [woo.hoonsik@koreadaily.com]
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