Friday, December 30, 2005

Gas Pricing

No, not the cost of gas, that's been done to death.

What I don't understand is why gas prices are expressed to the tenth of a cent. Anybody have a 0.1-cent piece? I don't. If I buy 1.000* gallon of gas at $1.949 will I get 5.1 cents in change? No, I won't. They will keep my 0.1 cents.

We're all getting ripped off to the tune of a penny every 10 gallons. Wikipedia pegs gas consumption at 360 million gallons per day. That's $360,000 a day taken from consumers, or $131.4 million a year.

*yes, the pump measures to thousandths of a gallon. That's 0.128 ounces (volume), 0.00625 pounds, 2.8 grams or 0.19 cents. I'm impressed with the resolution of the pump, but it seems like overkill to me.

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At 3:02 PM , Blogger Harvey said...

Most plausible answer here:

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