Who Has the Cheapest Pumpkin Spice Latte? (It's NOT Starbucks)

Pumpkin spice season is ramping up, and I gotta be honest — coffee prices this year are really dampening my excitement. I'm not sure who Starbucks thinks they are (and I used to work there!), but paying over $6 for a 16-ounce drink is no longer doable with my coffee budget.

I compared medium size lattes at six different shops to find the best value. If you're pinching pennies like me, avoid Starbucks and Dutch Bros. and opt for Krispy Kreme or Dunkin', or even Peet's. You'll find the best value for their hot and iced pumpkin coffees at these shops.

It's worth noting that you can get a very cheap pumpkin spice latte at 7-Eleven (I'm talking $2.19 for 20 ounces), but it's a machine-made drink, while the lattes on my list are made with espresso and milk.

Alright, here's the breakdown of getting the best price on a PSL along with how to cheat a tiny bit and spice up an iced coffee to save up to $2.

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Krispy Kreme has the cheapest pumpkin spice latte (so far).

The winner for the cheapest pumpkin spice latte is Krispy Kreme. While they aren't the cheapest out-of-pocket price, I like to look at price per ounce (because cup sizes vary). If we look at price per ounce, we can see the best value regardless of cup size.

Krispy Kreme charges $4.49 for a 16-ounce PSL, working out to $0.28 per ounce. It's $1.76 less than the Starbucks PSL and $0.11 cheaper per ounce.

Even though Dunkin' and Peet's have a lower out-of-pocket cost — $4.39 and $4.29, respectively — their cups weigh in at 14 ounces, making the cost per ounce higher at $0.31.

I'll be keeping my eye on McDonald's. I expect them to release a pumpkin coffee in September, and it could take over the top spot for cheapest PSL.

Pumpkin spice latte prices have been steadily increasing — Dunkin' and Peet's have seen the biggest jumps.

Starbucks has always been the priciest of the bunch. But to be fair, their prices have only increased an average of 3.58% per year since 2005. While other chains are cheaper, we've seen jumps as high as 18% from Dunkin' and 20% from Peet's in the past two years.

Even with the price hikes, Dunkin' still manages to offer up pretty affordable coffees compared to Starbucks. But I've got to hand it to Krispy Kreme, thanks for keeping me caffeinated on a budget this fall.

*Note: I did my best to find accurate pricing for 2022, but as always prices vary by location.

Spice up an iced coffee and create an Iced Pumpkin Spice Latte dupe for up to $2 cheaper.

Alright, here's what I do to save even more — especially since I like iced coffees better than hot. Many of these coffee shops have iced coffee options, and it costs less to doctor up a cold coffee than it does to order a specialty latte. The caveat? You won't be getting espresso. But you'll still get a creamy, fall-spiced caffeine kick for up to $2 less. You with me?

Here's a price breakdown when you order a medium iced coffee (not a cold brew), add pumpkin flavoring, a splash of cream, and whipped cream instead of buying an iced pumpkin spice latte.

KCL TIP: Iced coffee requires fewer Starbucks Stars, so you can get one of these pumpkin spice dupes for free with 100 Stars instead of redeeming 200 Stars for the latte.

*At Peet's, it's best to order the iced espresso and add extra milk, pumpkin syrup, and whipped cream.