With US gas prices hovering near record highs, Krispy Kreme aims to lure cash-strapped motorists with the promise of a box of donuts for the same price as a gallon of unleaded gas.
The North Carolina-based chain said it will use the national average price of a gallon of gasoline as a benchmark for the price of a dozen glazed donuts.
The discounted boxes are available in stores and online every Wednesday until May 4 – with prices updated every preceding Monday to reflect gas prices.
“Inflation and high gas prices are serious, forcing families to make tough compromises,” Dave Skena, Krispy Kreme’s chief marketing officer, said in a statement. “We know that despite high fuel prices, people have to be on the road anyway.”
This week, a dozen donuts from the chain will cost customers $4.11 — the same price as the national average cost of a gallon of gasoline, according to data from AAA. The same box of donuts generally costs around $10.
The promotion was announced this week ahead of the Labor Department’s March consumer price index release, which showed inflation rising to 8.5%. Inflation rose to its highest level since December 1981.
Soaring oil and gas prices have been a major source of pressure on US budgets as the war between Russia and Ukraine leads to further disruptions in a global energy market that has already struggled to keep up with demand during the COVID-19 pandemic.
Food prices are also rising, whether Americans are eating at home or buying meals or snacks from companies like Krispy Kreme. Grocery prices rose about 10% in March, while out-of-home groceries rose 6.9%.
Overall, food costs increased by 8.8% in March compared to the same month last year.
Rising prices have prompted some guests to forgo expensive dinners like beef and other meats.
https://nypost.com/2022/04/12/krispy-kreme-ties-donut-price-to-gallon-of-gas-amid-inflation/ Krispy Kreme ties donut price to gallon of gas amid inflation