Blame Credit Cards For High Gas
Posted by KC | Posted in credit cards, gas prices | Posted on 14-05-2008
2
…well a little at least.
According to this article on CNN.com:
Buying gasoline with a credit card could be hurting your local independent gas station owner – and you may have to pay for it.
That’s because credit cards charge merchant fees in the form of a percentage of sales – and those fees eat into the fixed per-gallon sum that gas retailers tack onto pump prices.
Some stations raise prices in order to keep profit steady.
It makes sense. All I know is that I’m glad that I now have shredded all my credit cards and have taking public transportation to work for a full year now. The timing seems to have worked out in my favor.
