7-Eleven coffee and Slurpee prices as convenience store scraps $1 offer

Popular convenience store 7-Eleven is hiking the price of two of its most popular items – ditching its $1 offer for coffees and Slurpees after 13 years.

From October 4, regular 7-Eleven coffees will double in price to $2 while large Slurpees will jump to $1.50.

CEO Angus McKay said the company had been losing money on their budget beverages for more than a decade and said it was ‘no longer possible’ for the company to absorb the cost.

‘We will continue to provide our customers with great value and great quality, while ensuring our prices are sustainable for our store owners, our suppliers and our communities,’ he said.

‘A single $2 gold coin for a regular coffee remains among the best value offers in the industry.’

Regular coffees at 7-Eleven will now cost $2 with the convenience store’s famous $1 option set to go

Savvy customers looking to save a bit extra can use a reusable cup to save 50c on hot coffees.

‘Our new offer is fair value for our community, store owners and suppliers, and we’ll keep working to make it better,’ Mr McKay said.

The popular convenience store has franchise stores in Sydney, along NSW’s central and south coast, Melbourne, Brisbane and Perth. 

Large Slurpees have also jumped from $1 to $1.50 after 7-Eleven CEO Angus McKay revealed the company isn’t making any profit on the drinks

The price jump is another in a long series hitting Aussies as the battle with soaring inflation continues. 

Petrol, housing and food prices have caused the inflation rate to increase by 6.1 per cent with fears the it will continue to climb before the end of August. 

Treasurer Jim Chalmers warned ‘it will get tougher before it starts to ease’.

‘It’s going to be a difficult time ahead. We expect it to get higher,’ he said.

‘The most vulnerable people are making decisions between, you know, vegetables or rent and that’s when it really bites.’ 

Treasurer Jim Chalmers (above) said inflation price rises ‘will get tougher before it starts to ease’

Dr Chalmers released a new ministerial statement last month with updated forecasts of inflation hitting a new 32-year high of 7.75 per cent.

‘Forecasts are not bang on,’ Dr Chalmers said.

But he added inflation was likely to ‘moderate next year’ but take ‘a long time to get to a normal level of inflation’.