Prices of gasoline, Starbucks coffee and beverages have increased

> Prices of gasoline, Starbucks coffee and beverages have increased (Alberta Times) At the beginning of the new year, bad news came across the country that many commodities are about to increase in price. Gasoline prices this weekend may go up...

Gasoline, Starbucks coffee and beverage prices increase (Alberta Times) At the beginning of the new year, bad news spread across the country that many commodities are about to increase in price. Gasoline prices may rise by 4.5 cents this weekend. The reason is not the increase in crude oil prices, but Congress's refusal to extend the 30-year-old ethanol subsidy policy, causing this government subsidy to lapse. In the United States, ethanol is commonly mixed with gasoline to reduce exhaust smoke. Most gasoline currently used in U.S. cars contains 10% ethanol, called E-10. E-85 fuel is also sold in a few areas, with an ethanol content of up to 85%. But only cars using "flex fuel" can use E-85. How much and when will gasoline prices rise after ethanol subsidies end? These issues remain to be seen. Manufacturers who produce a gallon of ethanol-blend gasoline can receive a tax credit of 45 cents, which is equivalent to producing a gallon of E-10 and the manufacturer receives 4.5 cents. Because crude oil and ethanol prices have been volatile, it is difficult to calculate the immediate impact of the discontinuation of ethanol subsidies. The national average price of E-10 regular gasoline on the 2nd was $3.28 per gallon, compared with $3.07 a year ago. The average price of E-85 is 2.95 yuan. In addition, coffee industry giant Starbucks announced on the 3rd that it will increase the price of coffee in some areas due to rising raw material costs. Starbucks said coffee prices in the Northeast and South would increase by 1%, but it did not say whether prices would increase in all states. Prices will increase in New York, most southern states and Washington, D.C.; California and Florida are not yet included. The price of tall coffee in the above-mentioned areas will increase by 0.1 yuan, and the prices of six other beverages will also increase. A Starbucks spokesman said the price increases reflected competition in some markets and higher costs for coffee, fuel, milk and other goods. The last time Starbucks had a large-scale price increase was in 2007. The New York Times will increase its price starting this Monday. The Monday to Saturday edition will be available at newsstands for $2.50 per copy, which is the same as the printing price in the newspaper. As for the Sunday edition, it costs US$5 in the New York area and US$6 in other areas. For subscribers who have it delivered to their homes, the newspaper fee will also increase by about 4%. The subscription fee for the online version remains at the original price. This is the first price increase for The New York Times in more than two years. The New York Times did not explain the reason for the price increase or how much revenue this increase is expected to bring to the newspaper.