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To: urtax$@work

Does anyone know why there’s that 9/10 after the price of gas?


7 posted on 01/29/2012 9:56:07 AM PST by Mmogamer (I refudiate the lamestream media, leftists and their prevaricutions.)
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To: Mmogamer

That used to be the old tax. Back in the day you would see 7/10. America was once an honest place.


10 posted on 01/29/2012 10:04:50 AM PST by eyedigress ((Old storm chaser from the west)/?)
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To: Mmogamer
Well was going to say it just brings u in to buy the gas as you see the last number generally and looks better overall then rolled over to the next highest full number in cents--that 9/10ths of a cent than the added 1/10 over to 10/10 = 1.

Then there is said station competition across the street..

BUT will go with the experts:

What is 9/10 of a cent worth?

So the gas companies take an extra 9/10 of a cent for every gallon of gas we buy--what is that actually worth?

According to the U.S. Energy Information Administration (EIA), "prime suppliers" of "motor gasoline" reported sales of 372,833.5 thousand barrels sold in February 2007 [in this case]. Each barrel represents 42 gallons, and to determine the value of 9/10 of a cent for each gallon, we did the following calculation:

372,834 x 1000 x 42 x .009 = $140,931,063 That means that in February 2007, gas companies collected an extra $141 million USD because of their unique pricing practices. Assuming Februrary is a rough average for the year, that's $1.7 billion USD in additional revenue!

wisegeek

16 posted on 01/29/2012 10:19:46 AM PST by fight_truth_decay
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To: Mmogamer
Does anyone know why there’s that 9/10 after the price of gas?

For the same reason you never see something advertised for $40. It's always $39.99.

Mark

17 posted on 01/29/2012 10:20:49 AM PST by MarkL (Do I really look like a guy with a plan?)
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