In general, ad extensions help consumers make more specific choices by providing extra pieces of information -- like phone numbers, specific links and added text -- when an ad is served. Similar to these, price extensions can now be added below your headline and description for both mobile and desktop ads.
With this added functionality, you'll have the opportunity to utilize extra space below your main ad to showcase specific products and services along with their prices prominently on Google's SERPs, as long as your ad is served in the first position.
However, if you are currently using a third-party tool to produce and manage your ads -- anything outside of Adwords -- the functionality may not be available yet. If that's the case, you can simply log into your Adwords account directly and add price extensions there.
Think about it: you can now list multiple models with lease pricing or MSRP discounts. By taking advantage of the one-click rule, you can direct these extensions to relevant pages that provide additional details. Similarly, you can boost fixed operations by adding price extensions for services and top-selling accessories, increasing engagement directly from the SERP.
There are plenty of ideas and campaigns that can be optimized with this new functionality. Contact your account team to make sure you get price extensions up and running!