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gasoline

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little john

08-21-2005 09:48:16




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Has anyone every heard why gasoline is priced in tenths of a cent (always nine-tenths)? I can't think of anything else that is priced that way.




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JT

08-22-2005 07:53:10




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 Re: gasoline in reply to little john, 08-21-2005 09:48:16  
It is a mind game more than anything. For example, if you take two identincal items, price one at $2.00 and the other at $1.99, the $1.99 itm will sell faster. Why??? People will look at the 1 in front of the price and their logic will tell them it is cheaper and because in theri mind it is only a dollar something, it is cheaper. At least that is what some marketing "pros" old me one time at a seminar.

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Loyd in Texas

08-21-2005 12:01:43




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 Re: gasoline in reply to little john, 08-21-2005 09:48:16  
It's not hype. It is money. The 9/10 we don't look at anymore. But each day the US pumps over 250 million gallons of gas. That comes to about 2.25 million dollars profit for the oil companies. Just pocket change really.



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CNKS

08-21-2005 12:14:25




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 Re: gasoline in reply to Loyd in Texas, 08-21-2005 12:01:43  
But, to really get the pocket change of 2.25 million, they have to round up the $2.599 to $2.60, the way it is now, they are LOSING $2.25 million, and saving me 2 cents for 20 gallons of gas -- oil companies are really great people!



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Farmall Frank

08-21-2005 11:29:16




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 Re: gasoline in reply to little john, 08-21-2005 09:48:16  
I tink back when gas was less than 20 cents, the fine merchants could sneak 1 cent per 20 out of your pocket without you really noticing. Now, it is plain silly.



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Jay (ND)

08-21-2005 11:16:54




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 Re: gasoline in reply to little john, 08-21-2005 09:48:16  
It's like watching Houdini - it's magic.

Gas was 2.569 at the pumps here last week. Everyone said gas was 2.56 when it's really much closer to 2.57. 2.568 wouldn't gain any customers, but if you went to 2.570 you would lose a ton. The customers only look at the big numbers.



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CNKS

08-21-2005 11:09:16




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 Re: gasoline in reply to little john, 08-21-2005 09:48:16  
Everything is priced that way -- for the same reason that merchants price things at $199.99, etc. I would just as soon they did away with pennies and nickles and round everything to the nearest dime.



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little john

08-21-2005 11:34:34




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 Re: gasoline in reply to CNKS, 08-21-2005 11:09:16  
CNKS, I sure agree with you about rounding things off to the nearest nickle or dime!



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little john

08-21-2005 11:16:31




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 Re: gasoline in reply to CNKS, 08-21-2005 11:09:16  
$199.99 still is not priced in tenths of a cent.



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CNKS

08-21-2005 11:34:42




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 Re: gasoline in reply to little john, 08-21-2005 11:16:31  
That's a technicallity, but the principle is still the same, the current gas price in my area is $2.599, or 25.99 for 10 gallons To some people that is cheaper than pricing it at $2.60, which is 26.00 for 10 gallons. -- It's all hype, as most advertising is.



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little john

08-21-2005 11:37:40




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 Re: gasoline in reply to CNKS, 08-21-2005 11:34:42  
I guess I was wondering why we don't buy a case of Pepsi for x dollars and 99 and 9 tenths cent. Maybe it's a matter of volumn sold? I realize the thing about 99 cents instead of a dollar, but it was the tenths of a cent that I wondered about. Why only gas?



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CNKS

08-21-2005 11:45:49




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 Re: gasoline in reply to little john, 08-21-2005 11:37:40  
I vaguely (very vague) remember when it was priced at 0.295 or something like that -- in the old days it actually might have made a difference, I don't know why they never used hundreds. Maybe because the old odometer style gas pumps couldn't handle the extra digit?? -- I don't know.



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little john

08-21-2005 11:50:19




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 Re: gasoline in reply to CNKS, 08-21-2005 11:45:49  
Thanks for your replies. Your comment about the old pumps made me remember that as a child I saw a few of those old pumps where you worked a lever to fill the tank at the top, and then drained it into the vehicle. Gas was probably about 29 cents then.



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CNKS

08-21-2005 11:50:05




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 Re: gasoline in reply to CNKS, 08-21-2005 11:45:49  
Forget my last post (wish there was a "modify post" feature on this forum). Brain not handling higher mathematics today. 0.295 or $2.599 is thousands, I'm going to quit.



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Dick Davis

08-22-2005 04:42:28




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 Re: gasoline in reply to CNKS, 08-21-2005 11:50:05  
Ya, but CNKS you had a great run!



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