Tuesday, July 22, 2008

Paying more at the pump


And I'm not talking about ga$ either but the transaction fees if you use your credit card. I always use my debit to pay for gas (more convenient) and makes me wonder after reading this CNN article what other hidden costs are generated when we try to make our lives easier at the pump:


Gas stations across the country are increasingly offering discounts for fuel purchases made with cash as high oil prices eat into their profits.

The difference of 10 cents a gallon or more has some customers used to paying with a credit card irate, but station owners say they have to do something to turn a profit.
"If we pay 3 percent or even a little less than that at $4 a gallon in a credit card fee and I'm making 12 cents a gallon, that's my entire profit," said Paul Kelly, who owns a Sunoco station in New Jersey.


Customer Jim Coogan hadn't read the signs and didn't realize he would be paying 10 cents a gallon more at Kelly's Sunoco when he swiped his credit card.
"I don't think that's fair," he said when a reporter pointed out the difference.
Charles Langley, who has tracked Southern California gas prices for the Utility Consumers' Action Network for 10 years, says drivers who charge their gas can actually end up paying substantially more than the 32 cents in the Carlsbad comparison "....More people are financing gas," he said, incurring interest payments along with the cost of the fuel. And he said credit card users need to be more aware and just check posted prices to save money.

"Credit card buyers are notorious for not looking at the price of gas," he said, staying loyal to either their brand of gasoline or credit card they've used for a long time.

Langley says he personally stopped paying for gas with plastic, and now drives by the motto, "More gas for less cash."

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I don't know about you but I have an issue of already paying close to $4.00 a gallon and to have additional costs piled on is really aggravating me. Cutting corners is something Americans have become a pro at...but how much more of this price gouging do we have to put up with before we have total anarchy? BTW one really shouldn't pay for ga$ with their credit card. If you only make the minimum payment on your bill that ga$ is going to end up costing you more than what it's really worth.


Ok--ok...not total anarchy but let's face it we cannot continue on this same course of action without our economy taking a worse hit than it already has.

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