As long as I can remember, gas has cost .98 and 9/10 of a cent or $1.69 and 9/10 of cent. With the billions of dollars in profits that they are making, shoul;dn't they drop that 9/10th of a cent from their prices. I know, they would probably round it up to a full 1 cent.
2006-07-18 08:36:55 · 5 answers · asked by Coach D. 4 in Business & Finance ➔ Corporations
It wouldn't be much more if they did round it up.People think they're paying less than they are because of that nonsense.No one else does that.It IS time they stop.
2006-07-18 08:41:33 · answer #1 · answered by kimberli 4 · 1⤊ 2⤋
Gas stations add that extra 9/10 of a cent on, not the oil companies. It's slightly different because most of the gas stations are run by independent people/companies, not the giant oil companies that are well-known in the media.
The actual gas stations make just a few cents on the gas they sell and make the rest up on convenience store sales and other services. They would probably just round up anyway. It's not exactly a new "tactic," as most stores in the world price things that end in a 9 to make things seem cheaper.
2006-07-18 09:48:14 · answer #2 · answered by Arbitrage 7 · 0⤊ 0⤋
No, everyone does it, at retail stores everything ends in .99 cents. It's just part of their marketing plan.
2006-07-18 08:40:24 · answer #3 · answered by Jimmy T 2 · 0⤊ 0⤋
leave the poor oil companies alone. they are just trying to make it in this world without someone like you to be a critic. they NEED that money to break even for crying out loud.
2006-07-18 08:40:26 · answer #4 · answered by billdoright 3 · 0⤊ 0⤋
i think it is but they do that odd market pricing to make us think that its lower thatn it really is but howcome no one else prices stuff like that and its just one more reason to keep the penny around.
2006-07-18 08:40:48 · answer #5 · answered by Gustove 3 · 0⤊ 0⤋