7-Eleven’s $1 cafes and Slurpees will become the latest victims of Australia’s cost-of-living crisis, as the gas station chain buckles under the pressure of inflation.
In another blow to Australians, coffee prices will rise at 7-Eleven stores across the country to cope with the retailer’s rising operating costs.
A cup of regular coffee at the service station will double in price starting Tuesday, October 4, going to $2, while large coffees increase to $3 and super cups to $3.50.
However, those who want to save some extra money can bring their own reusable cup to the store to save 50 cents on their morning cup.
The $1 coffee from the gas station isn’t the only caffeine hit you’ll pay more for, as the price of iced coffees and melted sundaes will rise to $3 along with the store’s hot chocolates.
The price increase is the first in more than a decade, with regular-size coffee from the retail store remaining at $1 since 2009.
As for the Slurpees, a small one will become $1.00, a large one will move to $1.50, a super to $2.50 and a mega will convert $4.50.
7-Eleven CEO and CEO Angus McKay said it was no longer possible for the retailer to absorb the costs.
“Although this is the first price change in over a decade, a single $2 gold coin for a regular coffee is still among the best deals in the industry,” Mr. McKay told NCA NewsWire on Monday.
“We will continue to provide our customers with great value and great quality, while ensuring that our prices are sustainable for our store owners, our suppliers and our communities,” he said.
In addition to encouraging customers to use reusable cups, McKay said people can expect more announcements in the coming weeks that will focus on the company’s sustainability goals.
“Our new offering is a fair value for our community, store owners and vendors, and we will continue to work to improve it,” he said.
Victoria, NSW, ACT, QLD and Western Australia are home to 720 7-Elevens, with over 450 small family businesses in the service station franchise network.
Popular drinks join a growing list of items becoming increasingly unaffordable, and the costs of petrol, energy and food put thousands of Australians under pressure.
The annual inflation rate jumped to 6.1 percent in the year to June, the highest level in more than two decades.
Treasurer Jim Chalmers has warned Australians that the “confrontation” figure will get worse before it gets better.
“It’s going to be a tough time ahead; we expect it to increase,” she said in July.
“It will get harder before it starts to ease.”