7-Eleven’s $1 coffees and Slurpees are set to become the latest victims of Australia’s cost of living crisis, as the service station chain buckles under the pressure of inflation.
In another blow for Aussies, coffee prices will be bumped up at 7-Eleven stores across the country to address the retail company’s rising operational costs.
A regular cup of coffee at the service station will double in price as of Tuesday, October 4, becoming $2, while large coffees increase to $3 and super cups to $3.50.
Those wanting to save some extra coin, however, can bring their own reusable cup in-store to save 50c on their morning cuppa.
The service station’s $1 coffee isn’t the only caffeine hit you’ll be forking out more for, with the price of iced coffees and ice cream coffee melts set to rise to $3 along with the store’s hot chocolates.
The price hike is the first in over a decade, with the retail store’s regular-sized coffee remaining at $1 since 2009.
As for Slurpees, a small will become $1.00, a large will move to $1.50, a super to $2.50 and a mega will become $4.50.
7-Eleven CEO and managing director, Angus McKay, said it was no longer possible for the retail company to absorb costs.
“Although this is the first price change in more than a decade, a single $2 gold coin for a regular coffee remains among the best value offers in the industry,” Mr McKay told NCA NewsWire on Monday.
Along with encouraging customers to use a reusable cups, Mr McKay said people could expect further announcements in the next few weeks which will target the company’s sustainability goals.
“Our new offer is fair value for our community, store owners and suppliers, and we’ll keep working to make it better,” he said.
Victoria, NSW, ACT, QLD and Western Australia are home to 720 7-Elevens, with more than 450 small family-owned businesses in the service station franchise network.
The popular drinks add to a growing list of items becoming increasingly unaffordable, with petrol, energy and food costs putting thousands of Aussies under pressure.
The annual inflation rate jumped to 6.1 per cent in the year to June, the highest level in more than two decades.
Treasurer Jim Chalmers has warned Australians that the “confronting” figure will get worse before it gets better.
“It’s going to be a difficult time ahead; we expect it to get higher,” he said in July.
“It will get tougher before it starts to ease.”