Krispy Kreme ties price to gallon of gas in inflation donut discount

As US gas prices hover near record highs, Krispy Kreme is aiming to lure cash-strapped motorists with the promise of a box of donuts for the same price as a gallon of unleaded.

The North Carolina-based chain said it will use the national average price of a gallon of gas as the benchmark for the price of a dozen glazed donuts.

The discounted boxes will be available at stores and online each Wednesday through May 4 – with prices updated each preceding Monday to reflect gas prices.

“Inflation and high gasoline prices are serious and forcing families to make tough tradeoffs,” Krispy Kreme chief marketing officer Dave Skena said in a statement. “We know that despite the high gas prices people have to be out and about anyway.”

This week, a dozen donuts from the chain will cost customers $4.11 – the same price listed as the national average cost of a gallon of gas, according to data from AAA. The same box of donuts generally costs about $10.

The promotion was revealed this week ahead of the Labor Department’s release of its Consumer Price Index for March, which showed inflation surged to 8.5%. Inflation rose at its highest rate since December 1981.

Steep oil and gas prices were a key source of pressure on US households, as the Russia-Ukraine war results in further disruption for a global energy market that was already struggling to keep pace with demand during the COVID-19 pandemic.

Food prices are also on the rise, regardless of whether Americans choose to eat at home or buy meals or snacks from companies such as Krispy Kreme. The price of groceries jumped about 10% in March, while food purchased outside the home jumped 6.9%.

Overall, the cost of food jumped 8.8% in March compared to the same month last year.

Rising prices have caused some diners to forgo expensive dinner options like beef and other meats.