You know how gas is always $3.09 and 9/10ths instead of just $3.09? It turns out that fraction of a penny is worth BILLIONS to the gas companies.
Here's the math, based on numbers from February. Gas stations sold about 373 million barrels of gas (372,833,500 barrels to be exact). Each barrel is 42 gallons. So, with each gallon pulling in an extra nine-tenths of a cent, that means, in February, those penny fractions added up to $140.9 MILLION.
Assuming that February's numbers can be used as a rough average for the year, that means the nine-tenths of a cent leads to $1.7 BILLION in extra revenue.
Here's the math, based on numbers from February. Gas stations sold about 373 million barrels of gas (372,833,500 barrels to be exact). Each barrel is 42 gallons. So, with each gallon pulling in an extra nine-tenths of a cent, that means, in February, those penny fractions added up to $140.9 MILLION.
Assuming that February's numbers can be used as a rough average for the year, that means the nine-tenths of a cent leads to $1.7 BILLION in extra revenue.
1 comment:
LOVE the graphic!! It pretty much says it all.
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