Saturday, May 26, 2007

How Credit Card Transaction Fees Kill Gas Stations

Sky-high gas prices have prompted some Wisconsin service stations to stop selling fuel.

Jeff Curro has sold gas at his Brookfield Shell station for 20 years. But, he's turned off his pumps because the price he's paying to supply the gas to drivers is just too high.

Curro said his 3-cent-a-gallon profit margin is eaten up by the credit card companies that get an average 3 percent on every gallon sold. Credit card processing fees rank as the second-biggest expense for gas station owners.

Casey O'Gorman has also stopped selling gas at his West Allis Shell station. He's now doing business only as Auto Analyzers.

A Mobil station in Mequon temporarily shut off its pumps to protest the high gas prices. Yellow tape surrounds the pumps at Towne Market Mobil.

Copyright 2007 by The Associated Press.

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