Some Gas Stations Say No to Credit Cards

Someone is making money on astronomical gas prices. This article makes it painfully obvious that it isn't the gas station owners. In the days of $4+ a gallon gas prices, owners are saying "No" to credit card fees because it is cutting into their slim profits. Look at the numbers:

As gas tops $4 a gallon, that pushes [credit card] fees toward 10 cents a gallon. Now stations, which typically mark up gasoline by 11 to 12 cents a gallon, are seeing profits shrink or even reverse.

In a good month, Randolph's small operation would yield a $60 profit on gasoline sales. But that's been buried as soaring prices forced the station to pay about $500 a month in interchange fees.

"At these prices, people aren't making any money," said Jeff Lenard, spokesman for the Alexandria, Va.-based National Association of Convenience Stores. "It's brutal." [via AP]