Whether you’re a world-class chef or a humble home cook, olive oil probably has a permanent place in your pantry. Olive oil has numerous uses in the kitchen and is considered an essential staple, so when price hikes happen, they’re sure to get noticed. This is definitely true for Costco shoppers, who recently took to Reddit to point out the rising prices they’ve seen in the warehouse. According to the original writer of the thread, a two-pack of olive oil cost $46.99 about three months ago. The same two-pack now costs $53.99, which “literally shocked” the shopper.
A quick look at the Costco website shows that these current prices are actually legitimate. A two-pack of 3-liter olive oil bottles from Costco’s own brand Kirkland Signature costs $54.99 online. Due to the increased prices, some consumers are finding it difficult to squeeze the staple into their grocery budget. One shopper lamented, “Unfortunately, I have had to cut olive oil from my grocery budget… I have yet to find a better oil that is cost-effective.”
Read more: The best grocery store in every state
Why olive oil prices could rise
While major chains like Costco do everything they can to keep their customers by keeping their prices as reasonable as possible, some developments are simply beyond the control of the stores. Unstable weather patterns in the Mediterranean have affected the countries that produce the largest quantities of olive oil, namely Greece, Spain and Italy. This has severely affected the yields of producers in these regions, leading to rising prices.
The cost increases are most pronounced in Europe, but American consumers also seem to be feeling the strain on their wallets. So much so that Costco members are looking for alternatives on Reddit. One commenter said, “Last week was the first time it was cheaper to buy avocado oil,” while another claimed that Costco had “incredible prices” on ghee, a type of clarified butter that is caramelized to create a more intense, richer flavor.
While these alternatives can help save a few bucks, diehard olive oil fans are sticking with their oil despite the price increases. As one person put it, “I grew up in Italy. Did a blind taste test with my parents. They couldn’t believe they had chosen this as their favorite product. It’s worth every penny.”
Read the original article on Daily Meal.
