Patrick De Haan, head of petroleum analysis at GasBuddy, argues that the worst may be behind us when it comes to gas prices, but outlines the various factors that could change that.
Krispy Kreme is offering Americans suffering from gas pump pain a chance to snag a sweet treat deal.
CHIPOTLE CEO: INFLATION WAS ‘INEVITABLE’
Starting Wednesday, select Krispy Kreme locations are offering a dozen original glazed donuts for the same price as a gallon of gas. The price of the donuts, which is set every Wednesday through May 4th, is based on the national average gas price on the Monday of each week.
Guests can purchase up to two dozen Original Glazed Donuts for the price of a gallon of gas at participating stores, via drive-thru, or for pickup by ordering online and through the Krispy Kreme app. (Krispy Kreme)
Guests can purchase up to two dozen Original Glazed Donuts at participating stores, via drive-thru, or for pickup by ordering online and through the Krispy Kreme app.
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The promotion comes as inflation rose 8.5% yoy in March, the fastest pace since December 1981, when inflation hit 8.9%. Gasoline prices rose 18.3% on a monthly basis in March and are up 48% over the last 12 months.
According to AAA, the national average price of regular unleaded gasoline fell to $4.11 a gallon on Monday. The national average for regular unleaded gas hit a record $4.33 a gallon on March 11, as the Russian war in Ukraine prompted a rapid rise in oil prices.
| ticker | security | Last | To change | To change % |
|---|---|---|---|---|
| DNU | KRISPY CREAM | 13.07 | -0.52 | -3.83% |
According to the company’s website, a dozen original glazed Krispy Kreme donuts currently retail for $15.99.
“As Americans grapple with the rising PPG – price per gallon – of gasoline, we are lowering our PPOG – price per original glaze,” said Dave Skena, Krispy Kreme’s chief marketing officer, in a statement. “For the next few Wednesdays, we hope providing a little donut deflation will allow them to share a smile at a difficult time.”
The latest action comes after Krispy Kreme offered free donuts to blood donors in January to help the Red Cross fill a nationwide shortage. In 2021, the company also offered free donuts daily to customers who had been vaccinated against COVID-19.