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GAS PRICES

Discussion in 'Money & Finance Forum' started by bushwacker, Oct 19, 2009.

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  1. Oct 19, 2009 at 12:55 PM #1
    bushwacker

    bushwacker Full Access Member

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    Stopped at the Hot Spot yesterday to get gas .Price was 2.44 cash and 2.53 with credit card .First time I had seen that just wondering if this is happening across the state and why?
     
  2. Oct 19, 2009 at 2:07 PM #2
    VA49er

    VA49er Full Access Member

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    Seen that for years. It's just the merchant trying to pass on the CC transaction fees to the customer.
     
  3. Oct 19, 2009 at 2:07 PM #3
    gridfaniker

    gridfaniker Loathsome

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    it's bush's fault
     
  4. Oct 19, 2009 at 2:09 PM #4
    Southern_Yankee

    Southern_Yankee Full Access Member

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    seeing more and more of it. cash transactions dont have the credit card transaction fee(s). cash transaction savings are finally being passed to the consumer.
     
  5. Oct 19, 2009 at 2:23 PM #5
    jazzbluescat

    jazzbluescat superstar...yo.

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    Wonder if that applies to debit card? Probably not because it transfers directly without passing through a middle man?
     
  6. Oct 19, 2009 at 2:28 PM #6
    chipshot

    chipshot Full Access Member

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    I don't know if it applies or not but debit cards still have transaction fees.

    While it may not be illegal, it is almost definately against their merchant agreement contract with Visa/MC
     
  7. Oct 19, 2009 at 2:31 PM #7
    VA49er

    VA49er Full Access Member

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    Yep, however, the sign on a gas station near me had a sign that had one price for CASH/DEBIT and another higher price for CREDIT. So, not sure how that all works out for the merchant.
     
  8. Oct 19, 2009 at 3:40 PM #8
    Ace13

    Ace13 Full Access Member

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    Typically the bank covers the fees for debit transaction while the merchant covers the fees for CC transactions. That's why grocery stores always make you jump through hoops to process something as credit vs. debit.
     
  9. Oct 19, 2009 at 4:04 PM #9
    chipshot

    chipshot Full Access Member

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    Nope
     
  10. Oct 19, 2009 at 6:24 PM #10
    melonhead

    melonhead cohort

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    I've never seen that for gas...

    I do know that our local little store has started making you have a minimum purchase of $10 when using a credit or debit card because of the fees.
     
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