Gas prices
02-09-2012 | 01:01 PM
#1
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Joined: Jan 2002
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From: York, PA
Vehicle: 2006 Tiburon
Gas prices
If electric vehicles became mainstream and a large % of the population drove them, would gas prices decrease or increase? Demand would go down so less would come out of refineries. 
And why does the price of fuel end with 9/10ths of a cent? Something I was always curious about.
And why does the price of fuel end with 9/10ths of a cent? Something I was always curious about.
02-09-2012 | 01:13 PM
#2
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Joined: Nov 2008
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From: Huntsville, AL
Vehicle: 2001/Hyundai/Tiburon
I'd assume it would increase for the reasons you mentioned.
The 9/10ths is to squeeze every bit of money out of you as possible. So gas prices of $2.99 look really good, but $3.00 scares you off. Having that extra 9/10ths gives you the equivalent of the same thing. That comes out to about $3.4 million A DAY (1.2 BILLION PER YEAR) extra for gas and oil companies. Funny how much 9/10ths of a penny can gain them.
The 9/10ths is to squeeze every bit of money out of you as possible. So gas prices of $2.99 look really good, but $3.00 scares you off. Having that extra 9/10ths gives you the equivalent of the same thing. That comes out to about $3.4 million A DAY (1.2 BILLION PER YEAR) extra for gas and oil companies. Funny how much 9/10ths of a penny can gain them.
