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Costco seems pretty committed to $1.50.
https://www.usatoday.com/story/money/food/2022/09/26/costco-hot-dog-soda-combo-price/8118306001/
the price is sticky and a marquee deal. the soda costs nothing and hotdogs cost pennies. $1.50 is still way way more expensive than buying hotdogs in bulk, so nobody's gonna be pulling up and carting off hotdogs 100 at a time even if the cost of meat doubles. They've raised the price on Chicken Bakes, and I expect them to raise the price on pizza ($2/slice $10/pie is a screaming deal now) but I expect the hotdog to stick.
@Adam the catch is labor (wages, which are fairly high at costco) and prep costs such as condiments, fuel, napkins, etc. they also have these at an efficient rate, but I certainly don't expect them to get lower. buying a pack of hot dogs out of the fridge puts those costs on the consumer. still, Costco has quite a few loss leaders ($5 whole chicken f. ex.) so it's a tough question to call.