Buyer beware on that Fill up
Buyer beware on that Fill up
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Posted by editor Tue Nov 30, 1999 00:00:00 PST
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Some local stations have started adding on an extra charge for using a credit card.
Gas stations only make a about 10 to 12 cents per gallon per gallon and are being squeezed by credit card costs. Unlike in the past, when what we today call gas stations were service stations and did mechanical repairs, most stations today have Mini-Marts attached and count on sales there to make their profits.
Credit card companies charge the retailer a percentage of the sale for processing the transaction. As the cost of gas has gone up, the transation fee has gone up along with it cutting into profits leaving some retailers, not just gas stations, losing money on the sale.
Debit card charges to the retailer, while usually a fixed amount, also cut into profits especially on small ticket or thin margin sales. Some retailers refuse to accept or have set minimum limits on sales to accept either type of card.
So be aware when you pull into that gas station and watch for that extra sign either by or on the pumps for the credit card price. That way they’re will be no big supprise when the bill comes in the mail.
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