FFUSA Hears Relief Coming to Consumers at Gas Stations
Recently, there have been some changes in the credit card industry relating to gasoline purchases. Caps on interchange rates for certain debit and re-paid fuel transactions will result in savings for service stations, which can be passed on to consumers. This change is expected to take place in fall of 2008.
The relief is a way of counteracting the high increase in oil prices, which has frustrated gas station owners as they watch their profits shrink even further on card purchases. As gas station owners have had to increase the price of a gallon of gas from under $3.00 a gallon, to over $4.00 a gallon, profits have been shrinking and with gas station owners across the country offering discounts to cash customers, yet many people relying on plastic…it becomes an industry tug-of-war. This relief program may be the answer both sides are looking for.
December 2nd, 2008 10:19 am
This is good news for anyone that rarely carries cash, like me!