Can a store sell things for way more than what other stores offer?

I just ran to the store to buy some Coke and cereal. It's just the local convenient store. Not like Quick Trip. But I bought Captain Crunch and it was over $7! I can go to Walmart or Target and get like 2 boxes for that. Can they charge that much?

Yes but most dont cuz they wouldnt get much buisness as the other stoor that sells it fr half as much!