Gas prices may be on the wane, but don’t count on saving money. You may need those extra pennies for your morning coffee.

Starbucks Corp. increased prices at its company-owned stores on Oct. 3, the first price hike in two years. It now takes an extra nickel to walk away with a steaming cup of joe, a sophisticated latte or a frothy cappuccino.

That didn’t seem to faze Bobby Wertis of Daniel Island when he learned a few weeks ago that more costly coffee was on the way. He had just spent $4 on an iced no-sugar-added vanilla latte.

“I’m not like a Starbucks groupie, but they do some really decent things as a company in terms of not disturbing the rainforest and adding financial values to communities that grow the coffee in emerging, third-world countries,” Wertis said. “So if Starbucks needs it, I don’t mind paying it.”

While Starbucks beverage prices vary by region, the boost in cost averages 1.9% and was not applied to prepared coffee drinks sold in refrigerated cases.

A 3.9% increase was tacked on to Starbucks coffee beans, which now cost 50 cents more per pound. Starbucks spokeswoman Valerie O’Neil said the company’s whole bean prices have not gone up in nine years.

There was not one specific reason for increasing prices, but a variety of business costs factored into the decision, O’Neil said.

“It’s also the fact that we want to continue to invest in a total pay package, which is benefits and compensation for our employees,” O’Neil said.

Mark Vitner, vice president and senior economist at Wachovia Bank, said there is probably some pressure on large coffee companies such as Starbucks to make sure the people that work along the supply chain are paid properly.

“Coffee is a fairly low-cost product,” Vitner said. “I think their biggest problem at Starbucks is probably the cost of labor and benefits and possibly even the cost of their store space.”

Starbucks had 8,624 stores nationwide as of Aug. 30 and plans to open as many as 30,000 stores worldwide. It will open its 10th Charleston-area location on International Boulevard in North Charleston this fall.

The Seattle-based coffee chain reported a 21% increase in net revenues to $617 million in August compared to the same month last year. For the 47 weeks ended Aug. 27, the company had net revenues of $7 billion, a 22% increase from the previous year.

Relatively few businesses in the food and beverage industry have been able to raise the price of consumer goods, said Vitner, but Starbucks seems to be one that can.

“If you look at fast-food restaurants, most have not been able to raise their prices,” Vitner said. “Starbucks has such a strong following. Maybe if McDonald’s boosted their coffee prices by a nickel it would make news, but I doubt it. But Starbucks is a cultural icon right now and when they raise their prices, people notice.”

While people tend to notice price changes in things they buy regularly, Vitner does not think consumers will have a strong reaction to paying an extra nickel for Starbucks coffee.

“You would have to see a large price increase in order for people to change their behavior,” he said.

Behavior modification is not something that interests Mike Sutton, at least not when it comes to coffee consumption. Sutton recently treated himself and two business associates to Starbucks coffee concoctions during an informal meeting at a Starbucks in Mount Pleasant.

“You’ve got to pay the price,” Sutton said. “You’ve got to feed the addiction.”

Kathleen Dayton is a staff writer for the Business Journal. E-mail her at kdayton@charlestonbusiness.com.

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