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How Did the Practice of Pricing Fuel with 9 10th of a Penny Get Started

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How Did the Practice of Pricing Fuel with 9/10th of a Penny Get Started?

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The practice of pricing fuel with a fraction of a penny is thought to have started around the 1930s. While we can’t be sure who was the first to price fuel this way, it seems to have become relatively commonplace across the United States all the sudden around the same time. So what happened? In short- taxes and the Great Depression.

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Sources:

http://www.livescience.com/33045-why-do-most-prices-end-in-99-cents-.html
http://aoghs.org/transportation/first-gas-pump-and-service-stations/
http://www.nacsonline.com/YourBusiness/FuelsReports/GasPrices_2013/Pages/100PlusYearsGasolineRetailing.aspx
http://news.bbc.co.uk/2/hi/uk_news/magazine/7522426.stm
http://www.consumerschoiceaward.com/blog/post/2012/12/21/Psychological-Pricing-Why-Do-Most-Prices-End-in-95-cents.aspx
http://www.theatlantic.com/business/archive/2015/01/the-psychological-difference-between-1200-and-1167/384993/
http://www.reuters.com/article/2011/05/26/us-usa-gasoline-pricing-idUSTRE74P5EQ20110526
http://articles.latimes.com/2009/jan/07/business/fi-lazarus7
http://www.wbtv.com/story/17140610/why-do-gas-prices-come-with-a-910-on-the-end
http://jacksonville.com/opinion/blog/402032/jessie-lynne-kerr/2010-11-22/why-do-gas-prices-end-910s-cent
http://www.slate.com/articles/news_and_politics/explainer/2005/09/the_oil_price_roundup.single.html
http://www.kiplinger.com/article/spending/T063-C000-S001-a-brief-history-of-the-federal-gasoline-tax.html
http://www.eia.gov/tools/faqs/faq.cfm?id=10&t=10


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Published at: 2019-07-17 17:00:07.000
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