Krispy Kreme ties doughnut prices to cost of gas with weekly promotion

Krispy Kreme announced on Monday it was tapping into its “strategic doughnut reserve,” tethering the cost of a dozen original glazed doughnuts at participating stores to the national average price for a gallon of gas.

In a press release, the company said the weekly promotion will be available every Wednesday, starting this week and running through May 4.

A dozen of Krispy Kreme’s original glazed doughnuts is typically around $8, while the average price for a gallon of gas across the U.S. on Tuesday was $4.098, according to AAA.

Krispy Kreme Chief Marketing Officer Dave Skena said the company hopes the promotion will allow people to “share some smiles during a difficult time.”

“While Americans deal with the rising PPG — price per gallon — of gasoline, we’re lowering our PPOG — price per Original Glaze. Inflation and high gasoline prices are serious and forcing families to make tough tradeoffs,” Skena said in a statement. “A dozen Original Glazed Doughnuts for the price of a gallon of gas will help our fans make midweek a little sweeter for their friends and family.”

Gas prices across the U.S. have soared to record highs, a result of both inflation and Russia’s war in Ukraine. The Hill has been tracking the states with the highest gas prices and the lowest amid the surge.

Some states, such as Maryland, have suspended their gas tax to ease prices at the pump, while President Biden announced he would release an average of 1 million barrels of oil a day from the strategic reserve amid uncertainties about when surging fuel prices will lower.

Last year, Krispy Kreme also created a promotion that encouraged people to get vaccinated against COVID-19, offering free doughnuts to customers who received at least one shot of the vaccine. In August, the North Carolina-based company said it had given away more than 2.5 million doughnuts.

Krispy Kreme said it will set its weekly Wednesday price for a dozen of regular glazed doughnuts based upon the national average price for a gallon of gas that week.

The company said it will alert customers of the price through social media, but customers can check out participating locations and other details here.

Customers can purchase up to two dozen doughnuts included in the promotion.