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Thread: Cash-only pumps on the horizon?

  1. #1
    Vulture of The Western World Eric's Avatar
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    Cash-only pumps on the horizon?

    Rising gas prices have lifted the fixed percentage fees that filling station owners pay for credit card processing, consuming sale profits and pushing a few owners to suspend payments by plastic. The National Retail Federation asks why gas stations must pay higher fees when the cost of processing credit or debit cards is not affected by the price per gallon.

    When gas station manager Roger Randolph realized it was costing him money each time someone filled up with $4-a-gallon gas, he hung a sign on his pumps: "No more credit cards."

  2. #2
    Staff
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    Re: Cash-only pumps on the horizon?

    I have noticed a number of gas stations packing it in and shutting down lately. In fact, I haven't seen this many fuel stations shut since the energy crisis's of 1974 and 1979. Have you noticed the same?

  3. #3
    D_E_Davis
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    Re: Cash-only pumps on the horizon?

    What's most likely to happen is stations offering a discount for cash. Several local independent stations already doing that here.


  4. #4
    DonTom
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    Re: Cash-only pumps on the horizon?

    "In fact, I haven't seen this many fuel stations shut since the energy crisis's of 1974 and 1979."

    You mean the phony gasoline shortage so they could jack up the price a lot in a short period of time.

    What's happening now is many gas stations cannot afford $35,000.00 or so to refill their tanks, so they are forced to close down. I think they can buy less, but perhaps then have to pay a higher price than the others and then they won't get many customers. Notice all the longer lines at the cheaper gas stations, even if only a few cents per gallon less.

    -Don-


  5. #5
    Vulture of The Western World Eric's Avatar
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    Re: Cash-only pumps on the horizon?

    Quote Originally Posted by Henry
    I have noticed a number of gas stations packing it in and shutting down lately. In fact, I haven't seen this many fuel stations shut since the energy crisis's of 1974 and 1979. Have you noticed the same?
    Not yet, but I am not surprised you're seeing it. From what I gather, the margins for the store owner are exceedingly small and the extra cost of credit card transactions surely isn't helping...

  6. #6
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    Re: Cash-only pumps on the horizon?

    Quote Originally Posted by Eric
    Quote Originally Posted by Henry
    I have noticed a number of gas stations packing it in and shutting down lately. In fact, I haven't seen this many fuel stations shut since the energy crisis's of 1974 and 1979. Have you noticed the same?
    Not yet, but I am not surprised you're seeing it. From what I gather, the margins for the store owner are exceedingly small and the extra cost of credit card transactions surely isn't helping...
    There is an article from yahoo news today about just that. People are starting to take cash only.

    I am okay with it myself. We have become far too dependent on credit cards.

  7. #7
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    Re: Cash-only pumps on the horizon?

    Quote Originally Posted by DonTom
    "In fact, I haven't seen this many fuel stations shut since the energy crisis's of 1974 and 1979."

    You mean the phony gasoline shortage so they could jack up the price a lot in a short period of time.

    What's happening now is many gas stations cannot afford $35,000.00 or so to refill their tanks, so they are forced to close down. I think they can buy less, but perhaps then have to pay a higher price than the others and then they won't get many customers. Notice all the longer lines at the cheaper gas stations, even if only a few cents per gallon less.

    -Don-

    That's true. I don't understand it at this point. At 4 bucks, I could care less about saving 10 cents per gallon at the station "across the street."

    Of course, I'm not part of the sheeple crowd.

  8. #8
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    Re: Cash-only pumps on the horizon?

    An article in the paper says The Pantry (a chain of gas/convenience stores) has set aside additional money to pay the credit card fees, as well as joining in the petition (suit?) against the card processors.

    For each swipe of a card, it costs them 15 cents, and then 1.69% of the charge.

    So since people aren't filling up as often -- only putting in a few gallons at a time, the per-swipe costs are just eating them up.

    Chip H.

    Former owner: 2012 Honda Civic LX, 2006 Honda Ridgeline RTL, 2000 Honda CR-V EX, 2003 MINI Cooper S, 1992 Honda Accord LX, 1999 Mercedes ML-320, 1995 VW Jetta GLX, 1991 Mercury Capri XR2, 1981 Mercury Zephyr, 1975 Chevrolet Impala

  9. #9
    Senior Member misterdecibel's Avatar
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    Re: Cash-only pumps on the horizon?

    Is it the same for debit cards?

  10. #10
    Senior Member misterdecibel's Avatar
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    Re: Cash-only pumps on the horizon?

    I'm guessing not. My bank sent out a letter some months ago encouraging debit card users to run them through as credit card purchases, offering some sort of bonus point system that can be cashed in for goods and services. I guess they're fleecing the vendors with this.

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