The "doughnut deflation" deal will be offered on Wednesdays each week through May 4, the company said. Customers are limited to 24 doughnuts as part of the deal.
"While Americans deal with the rising PPG -- price per gallon -- of gasoline, we're lowering our PPOG -- price per original glaze," Krispy Kreme Chief Marketing Officer Dave Skena said in a statement.
According to AAA, the national average Wednesday was $4.08, which is down 3 cents from Monday. Photo by John Angelillo/UPI
"We know that despite the high gas prices people have to be out and about anyway. So, for the next several Wednesdays, we hope providing a little doughnut deflation will allow them to share some smiles during a difficult time."
Typically, the cost of a dozen glazed is between $10 and $12. Krispy Kreme set the price for a dozen at $4.11 on Wednesday, which was the average AAA reported on Monday.
On Wednesday, AAA said the national average had declined to $4.08 per gallon. The cost has come down substantially over the past couple weeks -- partly because of policy decisions such as President Joe Biden tapping the U.S. strategic reserve for an extra 180 million barrels of oil. On Tuesday, Biden said the government is suspending a ban on sales of gasoline with a 15% ethanol blend this summer, which should improve fuel efficiency.
Energy prices, including gas, have been a major contributor to rising inflation in the United States over the past several months. The Labor Department said on Tuesday that U.S. inflation rose by 8.5% over the past 12 months ending in March -- the highest rate in more than 40 years.