Whereas reference price appears as a relevant factor for the consumer in a stable context, in an unstable environment other variables have to be considered. Within this subject we have shown that during the gasoline crisis occurred in metropolitan France in autumn 2010, the perceived difference between the current pricing and the internal reference price doesn't have an impact in the loyalty of the consumer towards the retailer. Opposite, loyalty was impacted by the price raising legitimacy and by the perceived price evolution comparing to competitors. Consequently, we propose that managers may increase their prices following the market trend during crisis if they explain that they suffer from this crisis too.
