(Nexstar) – If the gas price wasn’t high enough yet, a nasty percentage is always added to the edge.
Usually you’ll see this strange pricing posted to gas stations (and almost anywhere). After all, that’s not that we can pay in a fraction of a penny, so why don’t gas stations just round up? Anyway, where will September 10 come from?
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Gas prices will be on display at a gas station in Prospect Heights, Illinois on Monday, March 24th, 2025.
It began with the first gas tax imposed by the state and federal governments that began in 1919 with Great Fear Pression, according to Ed Jacobsen, who founded the Northwoods Petroleum Museum in Wisconsin.
At the time, gallons of gas cost only about 10 cents per gallon, so the tax was small and calculated at a tenth of a cent, Jacobsen told WSYR. Gas stations handed the tax directly to consumers by addressing the price of fuel that day.
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Taxes were not always nine-nine times per penny. Sometimes it was less fractions. However, by the 1950s, gas stations began rolling to 9/10 pricing.
He also mentioned the enduring practice of “psychological pricing.” It’s a technique that advertisers use to make things feel much cheaper than that. That’s why you’re much more likely to see a price of $3.99 (and 9/10 of a penny!) than $4.
In reality, it’s unlikely that fractions will affect your budget, as gasoline prices are well above 10 cents per gallon. You can’t pay in a fraction of a cent anyway, so the final price is rounded to the nearest cent.
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