Starbucks up by a nickel

first_imgThe company decided to charge more because costs, including fuel and energy, are going up, O’Neil added. “It’s not one specific thing,” O’Neil said. “It’s part of our ongoing evaluation of business costs.” Starbucks’ pricing varies based on the market, but the 5-cent price increase will be across the board, regardless of drink or location, O’Neil said. Currently, a tall, or 12-ounce, cup of Starbucks coffee costs between $1.40 and $1.65. Twelve-ounce lattes range from $2.40 to $3.10, and a tall mocha costs between $2.70 and $3.40. Seattle-based Starbucks had 8,624 stores in the United States as of Aug. 30, about 5,500 of which are company-operated.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! The price increase won’t stop Marc Wodin, 59, from making two to three daily treks to the Starbucks at Oxnard Street and Canoga Avenue in Woodland Hills. “I’m sure they’re trying to make money, but prices go up,” he said, caramel macchiato in hand. Another Starbucks drinker said a nickel doesn’t bother her, but the current prices do. “It’s already too high,” said Susan Cellner, 44, who added that she will cut back her trips to the brewer. “I feel a little guilty because it’s like splurging.” Starbucks is also increasing the price of its coffee beans by about 50 cents per pound, the first jump for whole beans in nine years, spokeswoman Valerie O’Neil said. Got three bucks? That and a nickel will buy you a coffee drink at Starbucks. The ubiquitous chain is hiking the price of lattes, cappuccinos, drip coffee and other drinks by 5 cents, or an average of 1.9 percent, Starbucks Corp. said Thursday. The increase goes into effect Oct. 3 at hundreds of company-owned stores in California and across the nation. It’s the first time the company has boosted drink prices in two years. For those who slurp a cup of joe daily, the hike will mean an extra $18 annually, roughly equal to a year’s subscription to Vogue, the smash hit “Cars” DVD, or 6.5 gallons of regular gasoline. last_img read more