#492 pumping prices

The pricing of gasoline has always bemused me.  Why has the practice continued of posting the per gallon price with 9/10th increments,  as if $3.50 9/10ths isn't really $3.51/gallon?  I am also curious as to why vendors still post the prices for standard grade fuel.  I guess I should be glad because it keeps the playing field level.  Almost instantaneously, every station in town shows the same price for unleaded, and drivers can pull into whichever station is most convenient for them.  

Unfortunately, my car requires premium gas.  Of course this adds to the expense of driving, but it also adds to the time it takes to purchase gas.  Why?  Because, unlike with the standard grade where prices are posted, the price for premium gas varies widely by station since it is not emblazoned on the sign.  The same station is not always the cheapest either, so each time I need to fill up I need to check whether the upcharge is 30, 40 or 50 cents more per gallon or ask Gas Buddy where I should go that day.

It makes me wonder how things would be different if the price of other things were posted outside the store.  If there was full transparency would shampoo or jeans or diapers be cheaper?  Why don't pharmacies put in digital display their cost for insulin or Advil or beer?  

The pricing of gas and the sharing of those prices is a legacy from days gone by that the industry has perpetuated.  There may even be a law requiring the per gallon cost be publicized.  Your organization, too, may continue its practice of heralding the cost of your main item or loss leader.  But as a consumer, it's best to look beyond the billboard and ascertain the true cost to you.  It's easy to for everyone to look the same on the sign, but the true cost may guzzle funds right out of your wallet.

-- beth triplett
leadershipdots.blogspot.com

@leadershipdots
leadershipdots@gmail.com