Auto industry braces for motor oil shortage | CNN Business

Wholesale motor oil prices are rising rapidly, and some industry executives are warning of imminent shortages caused by the war with Iran. Damage to key facilities in the Middle East and the shutdown of the Strait of Hormuz have combined to create a perfect storm in this tiny but critical corner of the oil market. The risk is that some of the most popular kinds of motor oil will be in very short supply, forcing drivers to delay getting their oil changed or rely on suboptimal lubricants. “We’re looking at shortages — I have no doubt in my mind,” Holly Alfano, CEO of the Independent Lubricant Manufacturers Association (ILMA), an industry trade group, told CNN. “It’s a big mess — and it’s not going to be resolved quickly. It could take a year or so before we see any real relief.” Tom Glenn, president and founder of Petroleum Trends International and publisher of industry publication JobbersWorld, has chronicled the multiple rounds of dizzying price hikes on motor oil since the war started. “Three rounds of price increases over two and a half months is unheard of. And the magnitude is stunning,” Glenn told CNN. “I’ve been in this business since 1979, and I’v