Quite a few months ago at my local Target I noticed M1 at $1.99/qt, also on "closeout". The sales guys told me that they were discontinuing all oil sales. All motor oil was off the shelf for 2 weeks, then M1 magically reappeared again at $3.99/qt, where it has been ever since. And now they've added Pennzoil to their selection!
I would take any rumor of closeout with a grain of salt.
I work at a Target and we have Mobil 1 in the 5W-30, 10W-30, and 15W-50 for $3.89 per quart regular price. We also have Pennzoil in 5W-30, 10W-30, and 10W-40 for $1.69 per quart regular price. At our store, we had the Car and Driver brand 5W-30, 10W-30 and 30W on clearance for $.68 per quart.
However, all Target stores do clearance differently. So some stores may have something on clearance that others don't. In short, this could just be at one store.
In the northern part of NJ where I am I've yet to see any oil on sale or special. I mean ALL the stores charge full price for the oil. They NEVER have it on sale at close out prices. Heck even the local KMart had very old Penzoil/Penns oil 10W-30 rated SF or SG at the same price as the Penzoil SM rated oil . What gives . I wouldn't be suprised if NJ has a law against discounting just so they don't lose their sales tax revenue. Democrats, what are you going to do with them . Can't vote them out of office and you can't, oh well we won't go into that one .